New Issue: Deutsche Bank sells $2 million notes tied to Bloomberg Commodity

By Marisa Wong

Morgantown, W.Va., Feb. 16 – Deutsche Bank AG, London Branch priced $2 million of 0% notes due Feb. 11, 2020 linked to the Bloomberg Commodity index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be 96.05% of par plus any index gain. If the index finishes flat or falls, the payout will be 96.05% of par. Investors will receive a positive return only if the index gains by at least 3.95%, but investors will receive at least 96.05% of par at maturity.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Notes
Underlying index:	Bloomberg Commodity index
Amount:	$2 million
Maturity:	Feb. 11, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	96.05% of par plus any index gain; if the index finishes flat or falls, 96.05% of par
Initial level:	88.1673
Pricing date:	Feb. 6
Settlement date:	Feb. 9
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	25155MJM4

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