New Issue: Deutsche Bank prices $1 million securities due 2020 linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Sept. 25 – Deutsche Bank AG, London Branch priced $1 million of 0% securities due Sept. 29, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus 138% of the index gain, subject to a maximum return of 75%.

Investors will lose 0.5% for every 1% decline if the index falls.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Securities
Underlying index:	S&P 500
Amount:	$1 million
Maturity:	Sept. 29, 2020
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the index finishes above the initial level, par plus 138% of the index gain, capped at 75%; if the index falls, 0.5% loss for every 1% drop
Initial level:	1,966.97
Pricing date:	Sept. 22
Settlement date:	Sept. 29
Agent:	Deutsche Bank Securities Inc.
Fees:	1%
Cusip:	25152RR62

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