New Issue: Deutsche Bank prices $445,000 return enhanced notes linked to pharma stocks

By Angela McDaniels

Tacoma, Wash., Feb. 11 - Deutsche Bank AG, London Branch priced $445,000 of 0% return enhanced notes due Feb. 10, 2017 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the common stocks of Bristol-Myers Squibb Co. and Merck & Co., Inc. and the American Depositary Shares of AstraZeneca plc.

If the basket return is positive, the payout at maturity will be par plus 1.8 times the basket return. If the basket return is negative, investors will have 1-to-1 exposure to the decline.

The final basket level will be the average of the basket's closing levels on the five trading days ending Feb. 7, 2017.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Return enhanced notes
Underlying stocks:	Bristol-Myers Squibb Co. (Symbol: BMY), Merck & Co., Inc. (Symbol: MRK) and AstraZeneca plc (Symbol: AZN), equally weighted
Amount:	$445,000
Maturity:	Feb. 10, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive, par plus 1.8 times basket return; if basket return is negative, 1-to-1 exposure to decline
Initial share prices:	$50.33 for Bristol-Myers Squibb, $54.77 for Merck and $63.76 for AstraZeneca
Final basket level:	Average of basket's closing levels on five trading days ending Feb. 7, 2017
Pricing date:	Feb. 7
Settlement date:	Feb. 12
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	2%
Cusip:	25152RHT3

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