New Issue: Deutsche Bank prices $1.68 million trigger step performance notes tied to Euro Stoxx

By Toni Weeks

San Luis Obispo, Calif., June 27 - Deutsche Bank AG, London Branch priced $1.68 million 0% trigger step performance securities due Dec. 31, 2015 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the 15% step return and the index return.

Investors will receive par if the index falls by up to 25% and will be fully exposed to losses from the initial level if it falls more than 25%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Trigger step performance securities
Underlying index:	Euro Stoxx 50
Amount:	$1,681,800
Maturity:	Dec. 31, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is zero or positive, par plus greater of index return and 15%; par if index falls by 25% or less; full exposure to losses if index falls more than 25%
Initial level:	2,602.81
Trigger level:	1,952.11, 75% of initial level
Pricing date:	June 26
Settlement date:	June 28
Agents:	Deutsche Bank Securities Inc. and UBS Financial Services Inc.
Fees:	2.25%
Cusip:	25155H425

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