New Issue: Deutsche Bank prices $3.25 million 10.02% airbag yield notes linked to Terex

By Susanna Moon

Chicago, July 23 - Deutsche Bank AG, London Branch priced $3.25 million of 10.02% airbag yield optimization notes due Jan. 27, 2014 linked to Terex Corp. shares, 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 80% of the initial share price.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Airbag yield optimization notes
Underlying stock:	Terex Corp. (NYSE: TEX)
Amount:	$3,253,000
Maturity:	Jan. 27, 2014
Coupon:	10.02%, 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:	$29.04
Conversion price:	$23.23, 80% of initial share price
Pricing date:	July 19
Settlement date:	July 24
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	1.5%
Cusip:	25155L608

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