New Issue: Deutsche Bank sells $1.69 million capped BUyS linked to S&P 500, S&P MidCap 400

By Susanna Moon

Chicago, July 13 - Deutsche Bank AG, London Branch priced $1.69 million of 0% capped Buffered Underlying Securities due March 14, 2012 based on a basket of two equally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying indexes are the S&P 500 and the S&P MidCap 400.

The payout at maturity will be par plus 1.1 times any basket gain, up to a maximum return of 23.1%.

Investors will receive par if the basket falls by up to 11% and will lose 1% for each 1% decline beyond 11%.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped Buffered Underlying Securities
Underlying index:	S&P 500 and S&P MidCap 400, equally weighted
Amount:	$1,694,000
Maturity:	March 14, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 110% of any basket gain, capped at 23.1%; 1% loss per 1% drop beyond 11%
Initial index levels:	1,077.96 for S&P 500 and 739.89 for S&P MidCap 400
Pricing date:	July 9
Settlement date:	July 14
Agent:	Deutsche Bank Securities Inc.
Fees:	0.5%
Cusip:	2515A05K5

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