New Issue: Deutsche Bank sells $998,000 of review notes tied to Walt Disney stock

By Marisa Wong

Madison, Wis., Dec. 20 - Deutsche Bank AG, London Branch priced $998,000 of 0% review notes due Jan. 7, 2013 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a premium if Disney stock closes at or above the initial share price on any quarterly review date. The call premium will be 6% if the notes are called on April 2, 12% if called on July 2, 2012, 18% if called on Oct. 2, 2012 and 24% if called on Jan. 2, 2013.

The payout at maturity will be par if the final share price is at least 80% of the initial price. Otherwise, investors will lose 1% for every 1% that the share price declines from the initial price.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Review notes
Underlying stock:	Walt Disney Co. (NYSE: DIS)
Amount:	$998,000
Maturity:	Jan. 7, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par if final price is at least 80% of initial price; otherwise, full exposure to losses
Call:	At par plus a premium if Disney stock closes at or above initial price on any quarterly review date; call premium will be 6% if notes are called on April 2, 12% if called on July 2, 2012, 18% if called on Oct. 2, 2012 and 24% if called on Jan. 2, 2013.
Initial price:	$35.32
Trigger price:	$28.26, 80% of initial price
Pricing date:	Dec. 16
Settlement date:	Dec. 21
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	2515A1FJ5

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