New Issue: Deutsche Bank prices $7.49 million capped absolute return barrier notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 13 - Deutsche Bank AG, London Branch priced $7.49 million of 0% capped absolute return barrier securities due April 14, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus 125% of the gain, subject to a maximum return of 35%.

If the final index level is 70% to 100% of the initial index level, the payout will be par plus the absolute value of the index decline.

If, however, the final index level is less 70% of the initial level, investors will be fully exposed to the decline.

Deutsche Bank Securities Inc. is the underwriter.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped absolute return barrier securities
Underlying index:	S&P 500
Amount:	$7,492,000
Maturity:	April 14, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 125% of index return, up to maximum return of 35%; if index return is between zero and negative 30%, par plus absolute value of index return; if index return is less than negative 30%, par plus index return
Initial index level:	1,324.46
Pricing date:	April 11
Settlement date:	April 14
Agent:	Deutsche Bank Securities Inc.
Fees:	0.75%
Cusip:	2515A15T4

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