New Issue: Deutsche Bank prices $10.37 million securities linked to DB Liquid Commodity

By Laura Lutz

Des Moines, Oct. 26 - Deutsche Bank AG, London Branch priced $10.37 million of double opportunity securities without principal protection due Nov. 28, 2008 linked to the Deutsche Bank Liquid Commodity Index - Mean Reversion Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus 200% of any gain on the index, capped at a maximum payout equal to 127% of par; otherwise, par times index performance.

Deutsche Bank Securities and Deutsche Bank Trust Co. Americas are the underwriters.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Double opportunity securities without principal protection
Underlying index:	Deutsche Bank Liquid Commodity Index - Mean Reversion Excess Return
Amount:	$10,365,000
Maturity:	Nov. 28, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	If the final index level is at least the initial level, the payout at maturity will be par plus 200% of any gain on the index, capped at a maximum payout equal to 127% of par; otherwise, par times index performance.
Initial level:	736.23
Pricing date:	Oct. 24
Settlement date:	Oct. 29
Underwriters:	Deutsche Bank Securities, Deutsche Bank Trust Co. Americas
Fees:	0.1%

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