New Issue: Deutsche Bank prices $5.19 million two-year buffered return optimization notes on S&P 500

By Toni Weeks

San Diego, April 28 - Deutsche Bank AG, London Branch priced $5.19 million of buffered return optimization securities due April 30, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

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

The payout at maturity will be par of $10 plus 1.25 times any gain in the index, up to a maximum return of 21%.

Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered return optimization securities
Underlying index:	S&P 500
Amount:	$5,190,750
Maturity date:	April 30, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.25 times index return, capped at 21%; exposure to losses beyond 10%
Initial level:	1,347.24
Pricing date:	April 26
Settlement date:	April 29
Agents:	UBS Financial Services Inc and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154W878

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