New Issue: Deutsche Bank prices $7.91 million capped knock-out notes tied to gold

By Angela McDaniels

Tacoma, Wash., Sept. 6 - Deutsche Bank AG, London Branch priced $7.91 million of 0% capped knock-out notes due Sept. 11, 2012 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

If the final price of gold is less than 80% of the initial price of gold, the payout at maturity will be par plus the commodity return. Otherwise, the payout will be par plus the commodity return, subject to a minimum payout of par and a maximum return of 23.15%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped knock-out notes
Underlying commodity:	Gold
Amount:	$7,908,000
Maturity:	Sept. 11, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If final price of gold is less than 80% of initial price, par plus commodity return; otherwise, par plus commodity return, subject to minimum payout of par and maximum return of 23.15%
Initial price:	$1,828.00
Pricing date:	Sept. 1
Settlement date:	Sept. 7
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	None
Cusip:	2515A1CU3

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