New Issue: Deutsche Bank prices $3.11 million capped BUyS linked to basket of indexes

By Susanna Moon

Chicago, Oct. 14 - Deutsche Bank AG, London Branch priced $3.11 million of zero-coupon capped Buffered Underlying Securities due April 16, 2010 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the S&P 500 index with a 50% weight, MSCI EAFE index with a 25% weight, Russell 2000 index with a 15% weight and S&P MidCap 400 index with a 10% weight.

Payout at maturity will be par plus 120% of any basket gain, up to a maximum return of 19.98%. Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped Buffered Underlying Securities
Underlying indexes:	S&P 500 (50% weight), MSCI EAFE (25% weight), Russell 2000 (15% weight) and S&P MidCap 400 (10% weight)
Amount:	$3,105,000
Maturity:	April 16, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 120% of any basket gain, capped at 19.98%; par if basket falls by 10% or less; 1% loss for every 1% decline beyond 10%
Initial index levels:	899.22 for S&P 500, 1,209.71 for MSCI EAFE, 522.48 for Russell 2000 and 549.85 for S&P MidCap 400
Pricing date:	Oct. 10
Settlement date:	Oct. 16
Agents:	Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
Fees:	None

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