New Issue: Deutsche Bank prices $2.07 million trigger autocallable notes tied to Brent crude oil

By Toni Weeks

San Diego, June 17 - Deutsche Bank AG, London Branch priced $2.07 million of 0% trigger autocallable optimization securities due June 18, 2012 linked to Brent crude futures contracts, according to a 424B3 filing with the Securities and Exchange Commission.

If the price of Brent crude futures contracts closes at or above the initial price on any quarterly observation date, the notes will be called at par plus an annualized call return of 16.75%.

If the notes are not called and the final price is greater than or equal to 80% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. will be the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Trigger autocallable optimization securities
Underlying component:	Brent crude futures contracts
Amount:	$2,073,720
Maturity:	June 18, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If price of Brent crude futures contract finishes at or above $95.024, which is 80% of initial price, par; otherwise exposure to losses
Initial price:	$118.78
Trigger price:	$95.024, 80% of initial
Call option:	Par plus 16.75% per year if price of Brent crude closes at or above the initial price on any quarterly observation date
Pricing date:	June 10
Settlement date:	June 15
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	1.5%
Cusip:	25154W456

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