New Issue: Deutsche Bank prices $1.6 million BUyS linked to iShares Dow Jones U.S. Real Estate

By Jennifer Chiou

New York, June 28 - Deutsche Bank AG, London Branch priced $1.6 million of 0% Buffered Underlying Securities due June 30, 2010 linked to the iShares Dow Jones U.S. Real Estate Index Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, capped at a return of 38.25%.

Investors will receive par if the index declines by 10% or less and will lose 1% for each 1% decline beyond 10%.

Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered Underlying Securities (BUyS)
Underlying asset:	iShares Dow Jones U.S. Real Estate Index Fund
Amount:	$1,604,000
Maturity:	June 30, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, capped at 38.25%; par if index declines by 10% or less; 1% loss for each 1% decline beyond 10%
Initial level:	63.76
Pricing date:	June 25
Settlement date:	June 30
Agents:	Deutsche Bank Securities Inc., Deutsche Bank Trust Co. Americas
Fees:	None

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