New Issue: Deutsche Bank prices $12.5 million 0% partial principal-protected notes linked to index basket

By Jennifer Chiou

New York, Dec. 22 - Deutsche Bank AG, London Branch priced a $12.5 million issue of 0% partial principal-protected notes due Dec. 31, 2010 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying indexes are equal weights of the S&P 500, Nikkei 225 and Dow Jones Euro Stoxx 50.

Payout at maturity is par plus any gain on the basket times a participation rate of 122%. Investors will receive par if the basket loses up to 20% and will share in losses beyond 20%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Partial principal-protected notes
Underlying indexes:	S&P 500, Nikkei 225, Dow Jones Euro Stoxx 50, equally weighted
Amount:	$12.5 million
Maturity:	Dec. 31, 2010
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus 122% of any gain on the basket; par if the basket declines up to 20%; investors will lose 1% for each 1% decline beyond 20%
Pricing date:	Dec. 20
Settlement date:	Dec. 29
Underwriters:	UBS Financial Services Inc., Deutsche Bank Securities
Fees:	3%

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