New Issue: Deutsche sells $2 million buffered return enhanced notes on Regional Banking ETF

By Marisa Wong

Morgantown, W.Va., Jan. 29 – Deutsche Bank AG, London Branch priced $2 million of 0% buffered return enhanced notes due July 25, 2019 linked to the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.81 times any fund gain, subject to a maximum return of 18.1%.

If the fund falls by up to 10%, the payout will be par. Otherwise, investors will lose 1.11111% for every 1% decline beyond the 10% buffer.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered return enhanced notes
Underlying fund:	SPDR S&P Regional Banking ETF
Amount:	$2 million
Maturity:	July 25, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.81 times any fund gain, capped at 18.1%; par if fund falls by up to 10%; otherwise, 1.11111% loss for every 1% decline beyond the 10% buffer
Initial price:	$63.20
Final price:	Average of closing prices on five trading days ending July 22, 2019
Pricing date:	Jan. 22
Settlement date:	Jan. 25
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
Fees:	1.25%
Cusip:	25155MHS3

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