New Issue: Deutsche Bank prices $3.31 million trigger return enhanced notes linked to ETF, Euro Stoxx

By Angela McDaniels

Tacoma, Wash., Dec. 11 – Deutsche Bank AG, London Branch priced $3.31 million of 0% trigger return enhanced securities due Dec. 9, 2022 linked to the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the lesser-performing underlier’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 310% of the lesser-performing underlier’s return.

If the final level of the lesser-performing underlier is less than its initial level but greater than or equal to its trigger level, 50% of its initial level, the payout will be par.

If the final level of the lesser-performing underlier is less than its trigger level, investors will lose 1% for every 1% that the lesser-performing underlier declines from its initial level.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Trigger return enhanced securities
Underliers:	iShares MSCI EAFE ETF and Euro Stoxx 50 index
Amount:	$3,309,000
Maturity:	Dec. 9, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser-performing underlier finishes at or above initial level, par plus 310% of its return; if lesser-performing underlier finishes below initial level but at or above trigger level, par; if lesser-performing underlier finishes below trigger level, 1% loss for every 1% that lesser-performing underlier declines from initial level
Initial levels:	$69.29 for ETF and 3,561.57 for index
Trigger levels:	$34.65 for ETF and 1,780.79 for index; 50% of initial levels
Pricing date:	Dec. 6
Settlement date:	Dec. 11
Agent:	Deutsche Bank Securities Inc.
Fees:	1.625%
Cusip:	25155MFQ9

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