New Issue: Deutsche prices $1.6 million leveraged notes linked to four currencies

By Jennifer Chiou

New York, May 14 - Deutsche Bank AG, London Branch priced $1.6 million of 0% leveraged notes due Nov. 15, 2017 linked to the performance of an equally weighted basket of currencies relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the Indian rupee, the Indonesian rupiah, the Turkish lira and the South African rand.

If the basket return is positive, the payout at maturity will be par plus 225% of the basket return, subject to an effective cap of $2,000 per $1,000 principal amount of notes. If the basket return is zero or negative, the payout will be par.

The final basket level will be the average of the basket's closing levels on the five trading days ending Nov. 9, 2017.

J.P. Morgan Securities LLC is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Leveraged notes
Underlying currencies:	Indian rupee, Indonesian rupiah, Turkish lira and South African rand, equally weighted relative to euro
Amount:	$1.6 million
Maturity:	Nov. 15, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 225% of any basket gain, capped at gain of 100%; floor of par
Initial spot rates:	82.5321 for rupee, 15,861.24495 for rupiah, 2.8627 for lira, 14.2892 for rand
Pricing date:	May 9
Settlement date:	May 14
Agent:	J.P. Morgan Securities LLC
Fees:	2.5%
Cusip:	25152RKC6

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