New Issue: Deutsche Bank prices $8.91 million return optimization notes on S&P 500 via UBS

By Susanna Moon

Chicago, March 30 - Deutsche Bank AG, London Branch priced $8.91 million of 0% return optimization securities due April 30, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus double any gain in the index, up to a maximum return of 15.2%.

Investors will be exposed to any losses.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Return optimization securities
Underlying index:	S&P 500 index
Amount:	$8,905,400
Maturity:	April 30, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any index gain, capped at 15.2%; exposure to losses
Initial level:	1,310.19
Pricing date:	March 28
Settlement date:	March 31
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154P287

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