New Issue: Deutsche Bank prices $4.95 million buffered return enhanced notes on gold via JPMorgan

By Toni Weeks

San Luis Obispo, Feb. 5 - Deutsche Bank AG, London Branch priced $4.95 million of 0% buffered return enhanced notes due Aug. 6, 2014 linked to gold, according a 424B2 filing with the Securities and Exchange Commission.

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

The payout at maturity will be par plus 1.31 times any gain in the price of gold, up to a maximum return of 13.1%.

Investors will receive par if the price of gold drops by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered return enhanced notes
Underlying commodity:	Gold
Amount:	$4,954,000
Maturity:	Aug. 6, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 131% of any gain in price of gold, capped at 13.1%; par if price falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
Initial price:	$1,669.00
Pricing date:	Feb. 1
Settlement date:	Feb. 6
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	25152RBM4

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