New Issue: Deutsche prices $375,000 capped knock-out notes linked to Euro Stoxx 50

By Jennifer Chiou

New York, Nov. 13 - Deutsche Bank AG, London Branch priced $375,000 of 0% capped knock-out notes due Nov. 26, 2014 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the index closes below 80% of the initial level on any day during the life of the notes.

If a knock-out event has not occurred, the payout at maturity will be par plus the 7.9% digital return. Otherwise, investors will receive par plus the index return with full exposure to losses and any gains capped at 7.9%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped knock-out notes
Underlying index:	Euro Stoxx 50
Amount:	$375,000
Maturity:	Nov. 26, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 7.9% if the index never closes below 80% of the initial level on any day during the life of the notes; otherwise, par plus index return, full exposure to losses and gains capped at 7.9%
Initial index level:	3,034.91
Knock-out level:	2,427.93, 80% of initial level
Pricing date:	Nov. 8
Settlement date:	Nov. 14
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	25152RFR9

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