New Issue: Deutsche Bank prices $9.9 million buffered return optimization notes linked to S&P 500

By Susanna Moon

Chicago, Jan. 30 - Deutsche Bank AG priced $9.9 million of 0% buffered return optimization securities due July 31, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any gain in the index, up to a maximum return of 16.58%.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

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

Issuer:	Deutsche Bank AG
Issue:	Buffered return optimization securities
Underlying index:	S&P 500 index
Amount:	$9,899,730
Maturity:	July 31, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any index gain, capped at 16.58%; par for losses of 10% or less; exposure to losses beyond 10%
Initial level:	1,318.43
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agents:	Deutsche Bank Securities Inc. and UBS Financial Services Inc.
Fees:	2%
Cusip:	25154V409

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