New Issue: Deutsche sells $34.58 million market-linked step-up notes on Euro Stoxx

By Marisa Wong

Madison, Wis., June 1 – Deutsche Bank AG, London Branch priced $34.58 million of 0% autocallable market-linked step-up notes due May 26, 2017 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the step-up payment of 18.43% and the index return.

Investors will be exposed to any index decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$34,581,770
Maturity:	May 26, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes at or above initial level, par plus the greater of 18.43% and the index return; otherwise, full exposure to any losses
Initial level:	3,650.71
Step-up level:	4,323.54, 118.43% of initial value
Pricing date:	May 28
Settlement date:	June 4
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	25156D589

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