New Issue: Deutsche Bank prices $4.77 million buffered return optimization notes tied to S&P 500

By Toni Weeks

San Diego, Dec. 31 - Deutsche Bank AG, London Branch priced $4.77 million of 0% buffered return optimization securities due Dec. 31, 2014 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 plus double any gain in the index, subject to a maximum return of 16.79%. Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% that it declines beyond 10%.

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:	S&P 500
Amount:	$4,765,460
Maturity:	Dec. 31, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any gain in index, subject to maximum return of 16.79%; par if index declines by up to 10%; 1% loss for every 1% that index declines beyond 10%
Initial index level:	1,419.83
Pricing date:	Dec. 26
Settlement date:	Dec. 31
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154S661

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