New Issue: Deutsche prices $6.88 million digital notes on SPDR S&P Homebuilders

By Marisa Wong

Madison, Wis., Sept. 10 - Deutsche Bank AG, London Branch priced $6.88 million of 0% digital optimization securities due Sept. 13, 2013 linked to the SPDR S&P Homebuilders exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes at or above the initial share price, the payout at maturity will be par of $10.00 plus a digital return of 19.5%.

Investors will be exposed to any losses if the index falls.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Digital optimization securities
Underlying ETF:	SPDR S&P Homebuilders exchange-traded fund
Amount:	$6,882,400
Maturity:	Sept. 13, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If fund return is zero or positive, par plus 19.5%; otherwise, full exposure to losses
Initial price:	$24.37
Pricing date:	Sept. 6
Settlement date:	Sept. 11
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154X421

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