New Issue: Deutsche Bank prices $5.13 million 0% knock-out notes linked to Euro Stoxx 50

By Toni Weeks

San Diego, Aug. 12 - Deutsche Bank AG, London Branch priced $5.13 million of 0% knock-out notes due Feb. 14, 2013 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 falls by more than 42% from the initial level 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 minimum return of 0%.

If a knock-out event occurs, the payout at maturity will be par plus the index return, with full exposure to 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:	$5.13 million
Maturity:	Feb. 14, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If index falls by more than 42% from initial level during life of notes, par plus index return, with exposure to losses; otherwise, par plus greater of index return and 0%
Initial level:	2,153.77
Knock-out level:	1,249.19, 58% of initial level
Pricing date:	Aug. 10
Settlement date:	Aug. 15
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	2515A1CJ8

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