New Issue: Deutsche Bank sells $2.02 million digital payment notes tied to iShares MSCI EAFE

By Marisa Wong

Madison, Wis., June 21 - Deutsche Bank AG, London Branch priced $2.02 million of 0% digital payment securities due Dec. 20, 2012 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par of $1,000 plus a fixed payment of $180. The payout will be par if the fund falls by 20% or less. If the fund declines by more than 20%, investors will lose 1% for every 1% decline beyond the initial level.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Digital payment securities
Underlying fund:	iShares MSCI EAFE index fund
Amount:	$2.02 million
Maturity:	Dec. 20, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus digital return of 18%; if fund falls by 20% or less, par; otherwise, full exposure to negative fund return
Initial price:	$58.62
Barrier price:	$46.896, or 80% of initial price
Pricing date:	June 17
Settlement date:	June 22
Agent:	Deutsche Bank Securities Inc.
Fees:	1.25%
Cusip:	2515A18B0

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