Filed pursuant to Rule 433
Registration Statement No. 333-162195
Dated March 3, 2010

The PowerShares DB Crude Oil Long Exchange Traded Note (Symbol: OLO), PowerShares DB Crude Oil Short Exchange Traded Note (Symbol: SZO) and PowerShares DB Crude Oil Double Short Exchange Traded Note (Symbol: DTO) (collectively, the "PowerShares DB Crude Oil ETNs") are the first U.S. exchange-traded products that provide investors with a cost-effective and convenient way to take a long, short or leveraged view on the performance of an oil-based commodity index.

All of the PowerShares DB Crude Oil ETNs are based on a total return version of the Deutsche Bank Liquid Commodity Index — Oil, which is intended to track the long or short performance of the underlying futures contracts of a basket of oil future contracts. The Long ETN is based on the Optimum Yield™ version of the Index, and the Short and Double Short ETNs are based on the standard version of the Index.

Investors can buy and sell PowerShares DB Crude Oil ETNs at market price on the NYSE Arca exchange or receive a cash payment at the scheduled maturity or early repurchase based on the month-over-month performance of the index less investor fees. Investors may offer PowerShares DB Crude Oil ETNs in blocks of no less than 200,000 securities and integral multiples of 50,000 securities thereafter for purchase, subject to the procedures described in the pricing supplement which include a fee of up to $0.03 per security.

Fact Sheet Prospectus

Financial Details
 OLOSZODTO-
Last Update2/3/2012
3:22 PM EST		2/3/2012
3:43 PM EST		2/3/2012
3:59 PM EST		-
-
Price14.0041.3542.56-
Indicative Intra-day Value14.0541.3242.55-
Last End of Day RP Value14.067340.644841.1561-
Last Date for End of Day Value12/28/201112/28/201112/28/2011-
ETN History as of 9/30/20111 (Growth of $10,000 since June 30, 2008)
PowerShares DB Crude Oil ETN & Index Data
Ticker Symbols
Crude Oil Long OLO
Crude Oil Short SZO
Crude Oil Double Short DTO
Intraday Indicative Value Symbols
Crude Oil Long OLOIV
Crude Oil Short SZOIV
Crude Oil Double Short DTOIV
CUSIP Symbols
Crude Oil Long 25154K866
Crude Oil Short 25154K874
Crude Oil Double Short 25154K809
Details
ETN price at listing $25.00
Inception date 6/16/08
Maturity date 6/1/38
Yearly investor fee 0.75%
Listing exchange NYSE Arca
DB Optimum Yield Crude Oil™ Index DBLCOCLT
DB Standard Crude Oil Index DBRCLTR
Issuer
Deutsche Bank AG, London Branch
Long-term Unsecured Obligations
Risks
  • Non-principal protected
  • Leveraged losses
  • Subject to an investor fee
  • Limitations on repurchase
  • Concentrated exposure to Crude oil
  • Acceleration risk
  • Credit risk of the issuer
Benefits
  • Leveraged and short notes
  • Relatively low cost
  • Intraday access
  • Listed
  • Transparent
  • Tax treatment3
ETN Performance & Index History (%)1
As of 9/30/20111 Year3 Year5 Year10 YearInception
ETN Performance
Crude Oil Long-8.48-15.32---21.00
Crude Oil Short5.8517.34--25.35
Crude Oil Double Short7.1420.90--38.18
 
Index History
Deutsche Bank Liquid Commodity Index-Optimum Yield Oil-7.85-14.62-1.54--20.37
Deutsche Bank Liquid Commodity Index-Oil-11.03-26.58-10.42--31.04
 
Comparative Indexes2
S&P 500 Index1.151.23-1.18--3.12
Barclays Capital U.S. Aggregate5.267.976.53-6.45

Long Index Weights
As of 2/2/2012
CommodityContract Expiry DateWeight (%)
Light Crude6/20/2012100.00

Short Index Weights
As of 2/2/2012
CommodityContract Expiry DateWeight (%)
Light Crude2/21/2012100.00
Light Crude3/20/20120.00

Source: Invesco PowerShares, Bloomberg L.P.
1ETN performance figures are based on repurchase value. Repurchase value is the current principal amount x applicable index factor x fee factor. See the prospectus for more complete information. Index history is for illustrative purposes only and does not represent actual PowerShares DB Crude Oil ETN performance. The inception date of the Deutsche Bank Liquid Commodity Index-Oil is Jan. 12, 2004. The inception date of the Index's Optimum Yield version is May 24, 2006. ETN Performance is based on a combination of the monthly returns from the relevant Commodity Index plus the monthly returns from the DB 3-Month T-Bill Index (the "T-Bill Index"), resetting monthly as per the formula applied to the PowerShares DB Crude Oil ETNs, less the investor fee. The Long ETN is based on the Deutsche Bank Liquid Commodity Index — Optimum Yield Crude Oil™, and the Short and Double Short ETNs are based on the standard version of the Deutsche Bank Liquid Commodity Index — Light Crude™ (the "Commodity Indexes"). The T-Bill Index is intended to approximate returns from investing in 3-month United States Treasury bills on a rolling basis.
Index history does not reflect any transaction costs or expenses. Indexes are unmanaged, and you cannot invest directly in an index. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.
2The S&P 500® Index is an unmanaged index used as a measurement of change in stock market conditions based on the performance of a specified group of common stocks. The Barclays Capital U.S. Aggregate Bond Index™ is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market.
3Deutsche Bank AG, London Branch, Invesco PowerShares and their affiliates do not provide tax advice, and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein (including attachments) (i) is not intended or written to be used, and cannot be used, by you for the purpose of avoiding U.S. tax related penalties and (ii) was written to support the promotion or marketing of the transactions or matters addressed herein. Accordingly, you should seek advice based on your particular circumstances from an independent tax advisor.
An investment in the PowerShares DB Crude Oil ETNs involves risks, including possible loss of principal. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement.
Not FDIC Insured — No Bank Guarantee — May Lose Value
The PowerShares DB Crude Oil ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch, and the amount due on the PowerShares DB Crude Oil ETNs is dependent on Deutsche Bank AG, London Branch's ability to pay. The PowerShares DB Crude Oil ETNs are riskier than ordinary unsecured debt securities and have no principal protection. Risks of investing in the PowerShares DB Crude Oil ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. Investing in the PowerShares DB Crude Oil ETNs is not equivalent to a direct investment in the index or index components. The investor fee will reduce the amount of your return at maturity or upon redemption of your PowerShares DB Crude Oil ETNs even if the value of the relevant index has increased. If at any time the redemption value of the PowerShares DB Crude Oil ETNs is zero, your investment will expire worthless. Deutsche Bank may accelerate the PowerShares DB Crude Oil ETNs upon the occurrence of a regulatory event as described in the pricing supplement. Ordinary brokerage commissions apply, and there are tax consequences in the event of sale, redemption or maturity of the PowerShares DB Crude Oil ETNs. Sales in the secondary market may result in losses. An investment in the PowerShares DB Crude Oil ETNs may not be suitable for all investors.
The PowerShares DB Crude Oil ETNs are concentrated in crude oil commodity futures contracts. The market value of the PowerShares DB Crude Oil ETNs may be influenced by many unpredictable factors, including, among other things, volatile oil prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. The DB Crude Oil ETNs are concentrated in a single commodity sector, are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector.
The DB Crude Oil Double Short ETN is a leveraged investment. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment.