New Issue: Deutsche Bank prices $2.12 million Stars tied to three financial stocks

By Susanna Moon

Chicago, April 22 – Deutsche Bank AG, London Branch priced $2.12 million of 0% Strategic Accelerated Redemption Securities due April 27, 2018 linked to the worse performing of Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call premium of 20.3% per year if the each stock closes at or above its initial level on April 22, 2016, April 21, 2017 or April 20, 2018.

The payout at maturity will be par unless any stock falls, in which case investors will be exposed to any losses of the worst performing stock.

BofA Merrill Lynch is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Strategic Accelerated Redemption Securities
Underlying stocks:	Citigroup Inc. (NYSE: C) JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC)
Amount:	$2,115,000
Maturity:	April 27, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless any stock falls, in which case exposure to any losses of worst performing stock
Call:	At par plus a call premium of 20.3% per year if each stock closes at or above its initial level on April 22, 2016, April 21, 2017 or April 20, 2018
Pricing date:	April 20
Settlement date:	April 27
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	25155G328

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