New Issue: Deutsche Bank prices $3.48 million securities linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., July 3 – Deutsche Bank AG, London Branch priced $3.48 million of 0% securities due July 2, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the lesser-performing index finishes at or above its initial level, the payout at maturity will be par plus 200% of that index’s return, subject to a maximum return of 49%.

If the lesser-performing index finishes below its initial level but at or above its trigger level, 70% of its initial level, the payout will be par plus 50% of the absolute return of the lesser-performing index’s return.

If the lesser-performing index finishes below its trigger level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$3,481,000
Maturity:	July 2, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser-performing index finishes at or above initial level, par plus 200% of that index’s return, subject to 49% maximum return; if lesser-performing index finishes below initial level but at or above trigger level, par plus 50% of absolute return of lesser-performing index’s return; if lesser-performing index finishes below trigger level, 1% loss for every 1% that lesser-performing index declines from initial level
Initial levels:	2,419.70 for S&P 500 and 1,416.199 for Russell 2000
Trigger levels:	1,693.79 for S&P 500 and 991.339 for Russell 2000; 70% of initial levels
Pricing date:	June 29
Settlement date:	July 5
Agent:	Deutsche Bank Securities Inc.
Fees:	0.25%
Cusip:	25155MBX8

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