Merrill Lynch SA

Full Redemption

Full Redemption

Deutsche Bank AG

Merrill Lynch S.A.

Issue of USD 4,200,000 Callable 10 Year U.S. CMT

Credit Linked Notes due 31/05/2017 Sr 840 Tr 1

MTN

ISIN : XS0302366702

This Issue has been early redeemed in full, for value date 30.11.2010.

The new amount outstanding will be Nil.

Please arrange to reflect this in your records