New Issue: Deutsche Bank prices $429.64 million knock-out notes on Euro Stoxx 50

By Toni Weeks

San Diego, Sept. 18 - Deutsche Bank AG, London Branch priced $429.64 million of 0% knock-out notes due March 19, 2014 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the index level decreases by more than 20% on any day during the life of the notes.

If a knock-out event does not occur, the payout at maturity will be par plus the index return, subject to a contingent minimum return of 7.6%.

If a knock-out event occurs, the payout will be par plus the index return, with full exposure to any losses.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Knock-out notes
Underlying index:	Euro Stoxx 50
Amount:	$429,639,000
Maturity:	March 19, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If index falls by more than 20% from initial level during life of notes, par plus index return, with exposure to any losses; otherwise, par plus greater of index return and 7.6%
Initial level:	2,594.56
Knock-out level:	2,075.65, 80% of initial level
Pricing date:	Sept. 14
Settlement date:	Sept. 19
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	2515A1LR0

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