New Issue: Deutsche Bank prices $2.06 million return enhanced notes on S&P 500

By Susanna Moon

Chicago, July 3 - Deutsche Bank AG, London Branch priced $2.06 million of 0% return enhanced notes due July 17, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, up to a maximum return of 22.12%.

Investors will be exposed to any losses.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Return enhanced notes
Underlying index:	S&P 500
Amount:	$2.06 million
Maturity:	July 17, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at 22.12%; exposure to any losses
Initial index level:	1,362.16
Pricing date:	June 29
Settlement date:	July 5
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	2515A1KN0

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