New Issue: Deutsche Bank prices $3.78 million capped knock-out notes linked to Euro Stoxx 50

By Toni Weeks

San Luis Obispo, Calif., Sept. 17 - Deutsche Bank AG, London Branch priced $3.78 million of 0% capped index knock-out notes due Oct. 1, 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 falls by more than 20% from the initial level on any day during the life of the notes.

If a knock-out event does not occur, the payout at maturity will be par plus a digital return of 10.1%.

If a knock-out event occurs, the payout at maturity will be par plus the index return, subject to a maximum return of 10.1%.

The final index level will be the average of the closing index levels on the five trading dates ending Sept. 26, 2014.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped index knock-out notes
Underlying index:	Euro Stoxx 50
Amount:	$3,777,000
Maturity:	Oct. 1, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If index falls by more than 20% during life of notes, par plus index return, subject to maximum return of 10.1%; if knock-out event does not occur, par plus 10.1%
Initial index level:	2,867.11
Knock-out buffer level:	2,293.69, 80% of initial level
Final index level:	Average of closing index levels on five trading dates ending Sept. 26, 2014
Pricing date:	Sept. 13
Settlement date:	Sept. 18
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	25152REN9

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