New Issue: Deutsche Bank prices $554,870 call warrants linked to JPX-Nikkei 400

By Marisa Wong

Madison, Wis., May 29 – Deutsche Bank AG, London Branch priced $554,870 of call warrants expiring May 25, 2018 linked to the JPX-Nikkei Index 400, according to a 424B2 filing with the Securities and Exchange Commission.

The 3,864 warrants have a notional amount of $1,000 each, or $3,864,000 total. The price is $143.60 per warrant, or 14.36% of the notional amount. The minimum purchase requirement is 70 warrants.

The warrants will be automatically exercised on the expiration date. If the index’s final level is greater than the initial index level, the cash settlement amount will be $1,000 multiplied by the index return. If the final level is less than or equal to the initial level, investors will lose their entire initial investments in the warrants.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Call warrants
Underlying index:	JPX-Nikkei Index 400
Warrants:	3,864
Notional amount:	$1,000 each, or $3,864,000 total
Price:	$143.60 each, or $554,870.40 total
Expiration date:	May 25, 2018
Payout:	If index’s final level is greater than initial index level, $1,000 multiplied by index return; if final level is less than or equal to initial level, nothing
Initial index level:	14,912.32
Pricing date:	May 22
Settlement date:	May 28
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	$6.50 per warrant
Cusip:	25190H653

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