New Issue: Deutsche Bank prices $1 million 5% securities linked to iShares MSCI EAFE, Russell 2000

By Toni Weeks

San Luis Obispo, Calif., April 17 - Deutsche Bank AG, London Branch priced $1 million of 5% securities due May 20, 2015 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the lesser-performing component falls below its knock-out level, 85% of its initial level, on the May 15, 2015 final valuation date.

If a knock-out event does not occur, the payout at maturity will be par. If a knock-out event occurs, investors will lose 1.1765% for every 1% decline beyond the 15% buffer.

Deutsche Bank Securities Inc is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Securities
Underlying components:	iShares MSCI EAFE ETF, Russell 2000 index
Amount:	$1 million
Maturity:	May 20, 2015
Coupon:	5%, payable monthly
Price:	Par
Payout at maturity:	If lesser-performing component finishes at or above knock-out level, par; otherwise 1.1765% loss for every 1% decline of lesser-performing component
Initial levels:	$66.36 for ETF, 1,119.495 for index
Knock-out levels:	$56.41 for ETF, 951.571 for index, 85% of initial levels
Pricing date:	April 15
Settlement date:	April 21
Agent:	Deutsche Bank Securities Inc.
Fees:	None
Cusip:	25152RJU8

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