New Issue: Deutsche Bank prices $7.83 million 10.1% yield optimization notes tied to Prudential via UBS

By Angela McDaniels

Tacoma, Wash., Dec. 17 - Deutsche Bank AG, London Branch priced $7.83 million of 10.1% yield optimization notes with contingent protection due Dec. 21, 2011 linked to the common stock of Prudential Financial Inc., according to a 424B2 filing with the Securities and Exchange Commission.

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

Interest is payable monthly.

Each note has a face amount of $49.15, which is equal to Prudential's closing stock price on the pricing date.

The payout at maturity will be par unless the final price of Prudential stock is less than 65% of the initial price, in which case investors will receive one Prudential share per note.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Prudential Financial Inc. (Symbol: PRU)
Amount:	$7,827,826
Maturity:	Dec. 21, 2011
Coupon:	10.1%, payable monthly
Price:	Par
Payout at maturity:	If Prudential stock finishes below the trigger price, one Prudential share per note; otherwise, par
Initial share price:	$49.15
Trigger price:	$31.95, 65% of initial price
Pricing date:	Dec. 15
Settlement date:	Dec. 18
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2.75%

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