New Issue: Deutsche Bank prices $2.62 million knock-out notes linked to index basket

By Susanna Moon

Chicago, Aug. 19 – Deutsche Bank AG, London Branch priced $2.62 million of 0% knock-out notes due Feb. 23, 2017 linked to a basket of equally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying components are the Financials Select Sector index, the Technology Select Sector index, the Consumer Discretionary Select Sector index and the Health Care Select Sector index.

If the basket finishes at or above the initial level, the payout at maturity will be par plus the gain up to a maximum return of 15%.

If the basket falls by up to the 82% knock-out level, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Knock-out notes
Underlying basket:	Financials Select Sector index, Technology Select Sector index, Consumer Discretionary Select Sector index and Health Care Select Sector index
Amount:	$2,615,000
Maturity:	Feb. 23, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If basket gains, par plus return, capped at 15%; if basket falls by up to knock-out level, par; otherwise, full exposure to any losses
Initial levels:	249.86 for Financials Select, 422.34 for Technology Select, 786.55 for Consumer Discretionary Select and 753.60 for Health Care Select
Knock-out levels:	82% of initial levels
Pricing date:	Aug. 14
Settlement date:	Aug. 19
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	25152RM42

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