New Issue: Deutsche Bank prices $575,000 14.5% notes on 30-, two-year ICE swap rates

By Wendy Van Sickle

Columbus, Ohio, March 1 – Deutsche Bank AG, London Branch priced $575,000 of 14.5% securities due Nov. 30, 2017 linked to the spread of the 30-year U.S. dollar ICE swap rate over the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the final spread is at least 50% of the initial spread, the payout at maturity will be par. Otherwise, investors will be fully exposed to losses.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Securities
Underlying rates: Two-year U.S. dollar ICE swap rate and 30-year U.S. dollar ICE swap rate
Amount:	$575,000
Maturity:	Nov. 30, 2017
Coupon:	14.5%
Price:	Par
Payout at maturity:	If final spread is at least 50% of initial spread, par; otherwise, full exposure to loss
Initial spread:	1.105%
Trigger level:	0.5525%, 50% of initial spread
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	Deutsche Bank Securities Inc.
Fees:	3%
Cusip:	25152R7E7

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