New Issue: Deutsche Bank prices $4.99 million capped BUyS linked to S&P 500, iShares MSCI EM

By Angela McDaniels

Tacoma, Wash., July 16 - Deutsche Bank AG, London Branch priced $4.99 million of 0% capped buffered underlying securities due Jan. 19, 2012 linked to a basket holding the S&P 500 index and the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The index has an 85% weight in the basket, and the exchange-traded fund has a 15% weight.

The payout at maturity will be par plus 1.5 times any basket gain, subject to a maximum return of 21%. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

Deutsche Bank Securities Inc. is the underwriter.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped buffered underlying securities
Underlying basket:	S&P 500 index (85% weight) and iShares MSCI Emerging Markets index fund (15% weight)
Amount:	$4,987,000
Maturity:	Jan. 19, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any basket gain, up to maximum return of 21%; par if basket falls by 10% or less; 1% loss for every 1% decline beyond 10%
Initial levels:	1,095.17 for index and $40.03 for ETF
Pricing date:	July 14
Settlement date:	July 19
Underwriter:	Deutsche Bank Securities Inc.
Fees:	0.5%
Cusip:	2515A0V59

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