New Issue: Deutsche Bank prices $113,000 performance notes tied to DJ-UBS Commodity

By Marisa Wong

Madison, Wis., July 29 - Deutsche Bank AG, London Branch priced $113,000 of 0% performance securities with contingent protection due July 30, 2015 linked to the Dow Jones-UBS Commodity index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 115% of any index gain.

If the index return is between zero and negative 40%, the payout will be par.

If the index return is less than negative 40%, the payout will be par plus the return.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Performance securities with contingent protection
Underlying index:	Dow Jones-UBS Commodity index
Amount:	$113,000
Maturity:	July 30, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 115% of any index gain; if index return is between zero and negative 40%, par; if index return is less than negative 40%, par plus the return
Initial level:	128.7907
Trigger level:	77.2744, 60% of the initial level
Pricing date:	July 27
Settlement date:	July 30
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	3.5%
Cusip:	25154N415

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