New Issue: Deutsche Bank prices $594,000 of 19% notes tied to ICE swap rate spread

By Susanna Moon

Chicago, June 14 – Deutsche Bank AG, London Branch priced $594,000 of 19% securities due June 13, 2019 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par if the final spread of the 30-year swap rate over the two-year swap rate is at least zero.

Otherwise, investors will lose 2.5% for each 0.01% decline beyond 0%.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Securities
Underlyings:	30-year U.S. dollar ICE swap rate over two-year U.S. dollar ICE swap rate
Amount:	$594,000
Maturity:	June 13, 2019
Coupon:	19%, payable monthly
Price:	Variable
Payout at maturity:	If spread is at least zero, par; otherwise, par plus 250 times final spread
Spread:	0.236%
Pricing date:	June 8
Settlement date:	June 12
Agent:	Deutsche Bank Securities Inc.
Fees:	4%
Cusip:	25155MMK4

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