New Issue: Deutsche prices $4.25 million capped leveraged notes on dollar vs. euro

By Marisa Wong

Madison, Wis., Dec. 17 – Deutsche Bank AG, London Branch priced $4.25 million of 0% capped leveraged currency-linked notes due March 18, 2016 tied to the dollar relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

The currency return will be positive if the final exchange rate is less than the initial exchange rate, which means it will take fewer dollars to purchase one euro at the final exchange rate compared to the initial rate.

The payout at maturity will be par plus 1.5 times any currency gain, subject to a maximum settlement amount of $1,120 per $1,000 principal amount. Investors will share in losses if the currency return is negative, with a minimum payout of zero.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped leveraged currency-linked notes
Underlying currency:	Dollar relative to euro
Amount:	$4,245,000
Maturity:	March 18, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any currency gain, subject to a maximum settlement amount of $1,120 per $1,000 principal amount; investors will share in losses if the currency return is negative, with a minimum payout of zero
Initial rate:	1.24225
Pricing date:	Dec. 15
Settlement date:	Dec. 18
Agent:	Deutsche Bank Securities Inc.
Fees:	0.8%
Cusip:	25152RTG8

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