New Issue: Deutsche Bank prices $5.71 million 8.55% airbag yield notes on Barrick

By Marisa Wong

Madison, Wis., May 7 - Deutsche Bank AG, London Branch priced $5.71 million of 8.55% airbag yield optimization notes due Nov. 8, 2013 linked to Barrick Gold Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 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 Barrick Gold 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 are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Airbag yield optimization notes
Underlying stock:	Barrick Gold Corp. (NYSE: ABX)
Amount:	$5,708,000
Maturity:	Nov. 8, 2013
Coupon:	8.55% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless final share price is less than conversion price, in which case number of Barrick Gold shares equal to $1,000 divided by the conversion price
Initial share price:	$20.00
Conversion price:	$16.00, 80% of initial share price
Pricing date:	May 3
Settlement date:	May 8
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities
Fees:	1%
Cusip:	25155H698

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