New Issue: Deutsche Bank prices $4.77 million trigger autocallable notes linked to Baker Hughes

By Susanna Moon

Chicago, June 21 - Deutsche Bank AG, London Branch priced $4.77 million of 0% trigger autocallable optimization securities due June 21, 2012 linked to Baker Hughes Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus an annualized call return of 25.75% if Baker Hughes shares close at or above the initial share price on any of 12 monthly observation dates.

The payout at maturity will be par if the stock finishes at or above 75% of the initial share price. Otherwise, the payout will be par plus the stock return with exposure to losses.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Trigger autocallable optimization securities
Underlying stock:	Baker Hughes Inc. (Symbol: BHI)
Amount:	$4,766,530
Maturity:	June 21, 2012
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If Baker Hughes shares finish at or above trigger price, par; otherwise, par plus stock return
Call:	Automatically at par plus 25.75% per year if Baker Hughes stock closes at or above initial share price on any of 12 monthly observation dates
Initial share price:	$69.35
Trigger price:	$52.01, or 75% initial price
Pricing date:	June 17
Settlement date:	June 22
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	1.25%
Cusip:	25154W464

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