New Issue: Deutsche prices $2.64 million buffered return enhanced notes on Russell 2000 via JPM

By Toni Weeks

San Diego, Feb. 15 - Deutsche Bank AG, London Branch priced $2.64 million of 0% buffered return enhanced notes due March 1, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return of 16.6%. Investors will receive par if the index falls by 10% or less and will lose 1.1111% for each 1% decline beyond 10%.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	0% buffered return enhanced notes
Underlying index:	Russell 2000
Amount:	$2.64 million
Maturity:	March 1, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, subject to a maximum return of 16.6%; if the return is equal to or less than negative 10%, par; investors will lose 1.1111% for each 1% that the index declines beyond 10%
Initial index level:	822.11
Final index level:	Average of index's closing levels on the five trading days ending Feb. 27, 2012
Pricing date:	Feb. 11
Settlement date:	Feb. 16
Agent:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	None
Cusip:	2515A13X7

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