New Issue: Deutsche Bank prices $50,000 trigger return enhanced notes linked to Euro Stoxx 50

By Wendy Van Sickle

Columbus, Ohio, May 1– Deutsche Bank AG, London Branch priced $50,000 of 0% trigger return enhanced securities due Oct. 30, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus 260% of the index return, up to a maximum gain of 65%. If the index declines but finishes at or above trigger level, 75% of the initial index level, the payout will be par. If the final index level is less than the trigger level, investors will lose 1% for every 1% that the final index level is less than the initial index level.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Trigger return enhanced securities
Underlying index:	Euro Stoxx 50
Amount:	$50,000
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above initial level, par plus 260% of index return, up to a maximum gain of 65%; if index declines but finishes at or above trigger level, par; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
Initial index level:	3,485.83
Trigger level:	2,614.37, 75% of initial level
Pricing date:	April 25
Settlement date:	April 30
Agent:	Deutsche Bank Securities Inc.
Fees:	2.25%
Cusip:	25155MKR1

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