New Issue: Deutsche prices $6.15 million market-linked notes on currencies

By Jennifer Chiou

New York, Aug. 24 - Deutsche Bank AG, London Branch, priced $6.15 million of 0% market-linked notes due Aug. 27, 2013 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Australian dollar, the Canadian dollar, the Norwegian krone, the Malaysian ringgit and the Korean won.

If the basket performance is positive, the payout at maturity will be par plus 132% of the basket performance.

Investors will share in up to 10% of losses and will receive at least 90% of par at maturity.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Market-linked notes
Underlying currencies:	Australian dollar, Canadian dollar, Norwegian krone, Malaysian ringgit and Korean won, equally weighted and relative to the U.S. dollar
Amount:	$6,149,920
Maturity:	Aug. 27, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 132% of any gain in the basket; exposure to losses up to 10%; floor of 90% of par
Initial exchange rates:	0.959 for Australian dollar, 0.9878 for Canadian dollar, 5.45205 for krone, 2.9754 for ringgit, 1,083.40 for won
Pricing date:	Aug. 22
Settlement date:	Aug. 25
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	None
Cusip:	25154P162

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