ISSUER FREE WRITING PROSPECTUS

Filed Pursuant to Rule 433

Registration Statement No. 333-137902

Dated February 23, 2009

ISSUER FREE WRITING PROSPECTUS Filed Pursuant to Rule 433 Registration Statement No. 333-137902 Dated February 23, 2009 POWERSHARES xchange traded notes 1. spin wheel to access ETV, ticker and exposure 2. Flip wheel over to see commodities and access NOT FDIC INSURED / NOT PRINICPAL PROTECTED / MAY LOSE VALUE / NO BANK GUARANTEE Invesco Powershares ETN Name ticker 2x 1x -1x -2x Leverage Commodity Exposure An investor should consider the investment objectives, risks, charges and expenses of each PowerShares DB ETN ("ETN") carefully before investing. The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch and the amount due on the ETNs is entirely dependant on Deutsche Bank AG, London Branch's ability to pay. The rating of Deutsche Bank AG, London Branch does not address, enhance or affect the performance of the ETNs other than the Deutsche Bank AG, London Branch's ability to meet its obligations. The ETNS are riskier than ordinary unsecured debt securitis and have no principal protection. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply, and there are tax consequences in the event of sale redemption or maturity of the ETNs. An investment in ETNs involves risks, including possible loss of principal. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement

Corn Soybeans Sugar Heating Oil Aluminum Wheat Gold Crude Oil Copper Zinc

Base Metals Agriculture commodity Gold Crude Oil

To stay informed about the growing family of long, short and leveraged PowerShares DB ETNs or to request a prospectus call 800.983.0903 / 877-369-4617 or visit powersharesetns.com or dbfunds.db.com/notes commodities key: wheat corn soybeans sugar crude oil heating oil gold copper zinc aluminum access / ticker commodities Deutsche Bank AG, London Branch has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents filed by Deutsche Bank AG, London Branch for more complete information about the Issuer and this offering. You may get these documents for free by visiting www.powersharesetns.com or EDGAR on the SEC website at www.sec.gov. Alternatively, you may request a prospectus by calling 800.983.0903, or you may request a copy from any dealer particpating in this offering Certain marketing services may be provided for these products by Invesco Aim Distributors, Inc. or its affiliate, Invesco PowerShares Capital Management LLC. Neither firm is affiliated with Deutsche Bank. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. P-DB-ETN-WHEEL-1