New Issue: Deutsche Bank prices $2.36 million knock-out notes linked Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., July 14 – Deutsche Bank AG, London Branch priced $2.36 million of 0% capped knock-out notes due July 27, 2016 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if the final index level is less than the knock-out level, 85% of the initial index level.

If the final level is greater than or equal to the initial level, the payout at maturity will be par plus the lesser of the index return and 22.5%. If the final level is less than the initial level but a knock-out event has not occurred, the payout will be par. If a knock-out event has occurred, investors will be fully exposed to the index’s decline.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped knock-out notes
Underlying index:	Euro Stoxx 50
Amount:	$2,355,000
Maturity:	July 27, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If final level is greater than or equal to initial level, par plus lesser of index return and 22.5%; if final index level is less than initial level but greater than or equal to knock-out level, par; if final index level is less than knock-out level, full exposure to index’s decline
Initial level:	3,528.81
Final index level:	Average of index’s closing levels on the five trading days ending July 22, 2016
Knock-out level:	2,999.49, 85% of initial level
Pricing date:	July 10
Settlement date:	July 15
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	25152RJ53

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