New Issue: Deutsche Bank prices $5.59 million buffered return enhanced notes on Asian basket

By Susanna Moon

Chicago, Nov. 20 - Deutsche Bank AG, London Branch priced $5.59 million of 0% buffered return enhanced notes due Dec. 4, 2013 linked to a basket of five indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Hang Seng China Enterprises index with a 30% weight, the Kospi 200 index with a 26% weight, MSCI Taiwan index with a 19% weight, the Hang Seng index with a 15% weight and the MSCI Singapore index with a 10% weight.

The payout at maturity will be par plus double any gain in the basket, up to a maximum return of 12%.

Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered return enhanced notes
Underlying basket:	Hang Seng China Enterprises index (30% weight), the Kospi 200 index (26% weight), MSCI Taiwan index (19% weight), the Hang Seng index (15% weight) and the MSCI Singapore index (10% weight)
Amount:	$5,594,000
Maturity:	Dec. 4, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any basket gain, capped at 12%; par if basket falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
Initial level:	10,242.70 for Hang Seng China, 243.45 for Kospi, 255.98 for MSCI Taiwan, 21,159.01 for Hang Seng and 332.38 for MSCI Singapore
Pricing date:	Nov. 16
Settlement date:	Nov. 21
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	25152RAC7

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