New Issue: Deutsche Bank prices $48 million three-month notes on MSCI Europe

By Marisa Wong

Morgantown, W.Va., Oct. 23 – Deutsche Bank AG, London Branch priced $48 million of 0% notes due Jan. 26, 2016 linked to the MSCI Europe index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the underlying return. The underlying return is the index return adjusted by a factor of 1.0006. Because of the adjustment factor, investors will receive less than par if the index return is less than negative 0.06%.

Deutsche Bank Securities Inc. is the underwriter.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Notes
Underlying index:	MSCI Europe
Amount:	$48 million
Maturity:	Jan. 26, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus the underlying return, which is the index return adjusted by a factor of 1.0006
Initial index level:	122.54
Pricing date:	Oct. 21
Settlement date:	Oct. 26
Underwriter:	Deutsche Bank Securities Inc.
Fees:	None
Cusip:	25152RT29

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