New Issue: Deutsche Bank sells $440,000 trigger return enhanced notes on EAFE fund, Stoxx

By Susanna Moon

Chicago, March 15 – Deutsche Bank AG, London Branch priced $440,000 of 0% trigger return enhanced securities due Feb. 28, 2023 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 each underlying asset finishes at or above its initial level, the payout at maturity will be par plus 325% of the gain of the worse performing component.

If either component falls by up to its 50% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worse performing component.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Trigger return enhanced securities
Underlying assets:	iShares MSCI EAFE ETF and Euro Stoxx 50 index
Amount:	$440,000
Maturity:	Feb. 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each underlying asset gains, par plus 325% of return of worse performing component; if either component falls by up to 50%, par; otherwise, 1% loss per 1% decline of worse performing component
Initial levels:	$71.34 for ETF and 3,441.46 for index
Trigger levels:	$35.67 for ETF and 1,720.73 for index; 50% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	Deutsche Bank Securities Inc.
Fees:	1.8945%
Cusip:	25155MJF9

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