New Issue: Deutsche Bank prices $2.02 million 9% airbag notes linked to United Continental

By Toni Weeks

San Diego, Aug. 27 - Deutsche Bank AG, London Branch priced $2.02 million of 9% annualized airbag yield optimization notes due Feb. 28, 2013 linked to the common stock of United Continental Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of United Continental shares equal to $1,000 divided by the conversion price. The conversion price will be 70% of the initial share price.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Airbag yield optimization notes
Underlying stock:	United Continental Holdings, Inc. (Symbol: UAL)
Amount:	$2.02 million
Maturity:	Feb. 28, 2013
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than conversion price, number of United Continental shares equal to $1,000 divided by conversion price; otherwise, par
Initial share price:	$18.33
Conversion price:	$12.83, 70% of initial share price
Pricing date:	Aug. 29
Settlement date:	Aug. 31
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	1%
Cusip:	25154X348

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