New Issue: Deutsche Bank prices $2.29 million contingent return optimization notes tied to S&P 500

By Angela McDaniels

Tacoma, Wash., Feb. 25 - Deutsche Bank AG, London Branch priced $2.29 million of 0% contingent return optimization securities due Feb. 28, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is at least 80% of the initial index level, the payout at maturity will be par of $10 plus the index return, subject to a minimum return of 6% and a maximum return of 22%.

If the final index level is less than 80% of the initial level, investors will be fully exposed to the index decline from the initial level.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Contingent return optimization securities
Underlying index:	S&P 500
Amount:	$2,292,690
Maturity:	Feb. 28, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is greater than or equal to trigger level, par plus index return, subject to minimum return of 6% and maximum return of 22%; otherwise, par plus index return
Initial index level:	1,307.4
Trigger level:	1,045.92, 80% of initial level
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154P352

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