By Jennifer Chiou
New York, Aug. 19 – Deutsche Bank AG, London Branch priced $1,475,000 of 0% return enhanced notes due Sept. 3, 2015 linked to the performance of the offshore Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The currency performance will be positive if the offshore renminbi strengthens relative to the dollar and negative if it weakens relative to the dollar. The final spot rate will be the average of the spot rates on the five trading days ending Aug. 28, 2015.
If the currency performance is greater than zero, the payout at maturity will be par plus five times the currency performance.
If the currency performance is equal to zero, the payout will be par. If the currency performance is less than zero, investors will have one-to-one exposure to the decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Return enhanced notes
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| Underlying currency: | Offshore Chinese renminbi
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| Amount: | $1,475,000
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| Maturity: | Sept. 3, 2015
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus five times any currency gain; full exposure to losses
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| Initial spot rate: | 6.1470
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 20
|
| Agent: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 0.95%
|
| Cusip: | 25152RNU3
|
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