New Issue: Deutsche Bank prices $3.08 million buffered return optimization notes linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., June 2 - Deutsche Bank AG, London Branch priced $3.08 million of 0% buffered return optimization securities due May 31, 2013 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.25 times any increase in the index, subject to a maximum return of 23.75%. Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered return optimization securities
Underlying index:	Russell 2000
Amount:	$3,082,800
Maturity:	May 31, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.25 times any index gain, up to maximum return of 23.75%; par if index falls by up to 15%; 1% loss for every 1% decline beyond 15%
Initial index level:	820.87
Pricing date:	May 25
Settlement date:	May 31
Underwriter:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154W753

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