New Issue: Deutsche Bank sells $1.58 million digital return notes on oil & gas ETF

By Marisa Wong

Morgantown, W.Va., June 21 – Deutsche Bank AG, London Branch priced $1.58 million of 0% digital return notes due July 5, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes at or above the trigger price, 75% of the initial price, the payout at maturity will be par plus the digital return of 9.85%. Otherwise, investors will lose 1% for every 1% that the fund declines from its initial level.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Digital return notes
Underlying fund: SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$1.58 million
Maturity:	July 5, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If the final fund level is greater than or equal to the trigger level, par plus 9.85%; otherwise, 1% loss for every 1% that the fund declines from its initial level
Initial level:	$31.65
Trigger level:	$23.74, 75% of initial level
Final level:	Average of closing levels on five averaging dates ending June 29, 2018
Pricing date:	June 16
Settlement date:	June 21
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	25155MBV2

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