New Issue: Deutsche prices $14.9 million trigger autocallables tied to gold ETF

By Jennifer Chiou

New York, Sept. 7 - Deutsche AG, London Branch priced $14.9 million of 0% trigger autocallable optimization securities due Sept. 7, 2012 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the closing share price is greater than the initial price on any quarterly observation date, the notes will be called at par plus an annualized call return of 19.84%.

If the notes are not called and the final price is greater than or equal to 75% of the initial level, the payout at maturity will be par. Otherwise, investors will share fully in losses.

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

Issuer:	Deutsche AG, London Branch
Issue:	Trigger autocallable optimization securities
Underlying fund:	Market Vectors Gold Miners exchange-traded fund
Amount:	$14,895,870
Maturity:	Sept. 7, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If final price level is at least 75% of initial level, par; otherwise, exposure to losses
Call option:	Par plus 19.84% per year if price closes at or above the initial share price on any quarterly observation date
Initial price:	$64.99
Trigger level:	$48.7425, 75% of initial share price
Pricing date:	Sept. 2
Settlement date:	Sept. 8
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	1.25%
Cusip:	25154W258

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