New Issue: Deutsche Bank prices $65.15 million buffered return enhanced notes linked to Brent crude

By Angela McDaniels

Tacoma, Wash., Oct. 12 - Deutsche Bank AG, London Branch priced $65.15 million of 0% buffered return enhanced notes due Oct. 17, 2012 linked to Brent crude futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.

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

If the final futures price is greater than the initial price, the payout at maturity will be par plus 2.78 times the increase, subject to a maximum return of 27.8%. Investors will receive par if the price declines by 15% or less and will lose 1.17647% for every 1% that it declines beyond 15%.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered return enhanced notes
Underlying commodity:	Brent crude futures contracts
Amount:	$65,146,000
Maturity:	Oct. 17, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If the final futures price is greater than the initial price, par plus 2.78 times the increase, up to a maximum return of 27.8%; par if the price declines by 15% or less; 1.17647% loss for every 1% that price declines beyond 15%
Initial price:	$105.88
Pricing date:	Oct. 7
Settlement date:	Oct. 13
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	2515A1DC2

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