New Issue: Deutsche Bank prices $3.02 million airbag yield optimization notes linked to Terex

New York, Nov. 13 - Deutsche Bank AG, London Branch priced $3,022,000 of 9.45% annualized airbag yield optimization notes due May 15, 2013 linked to the common stock of Terex Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Terex shares equal to $1,000 divided by the conversion price. The conversion price is 70% of the initial share price.

UBS Financial Services Inc. and Deutsche Bank Securities is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Airbag yield optimization notes
Underlying stock:	Terex Corp. (Symbol: TEX)
Amount:	$3,022,000
Maturity:	May 15, 2013
Coupon:	9.45% annualized, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than conversion price, number of Terex shares equal to $1,000 divided by conversion price; otherwise, par
Initial share price:	$22.45
Conversion price:	$15.72, 70% of initial price
Pricing date:	Nov. 9
Settlement date:	Nov. 15
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities
Fees:	1%
Cusip:	25154S836

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