New Issue: Deutsche Bank sells $725,000 autocallable securities on two indexes

By Toni Weeks

San Luis Obispo, Calif., Dec. 24 – Deutsche Bank AG, London Branch priced $725,000 of 0% autocallable securities due Dec. 22, 2017 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a return of 11.75% per year if each underlying index closes at or above its initial level on an annual observation date.

If the notes are not called and the final level of the lower-performing underlying index is at least 80% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lower-performing index from its initial level.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Autocallable securities
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$725,000
Maturity:	Dec. 22, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If lower-performing index finishes at or above knock-out level, par; otherwise, full exposure to decline of lower-performing index
Initial levels:	1,195.957 for Russell, 2,070.65 for S&P 500
Knock-out levels:	956.766 for Russell, 1,656.52 for S&P 500, 80% of initial levels
Call:	At par plus 11.75% per year if each index closes at or above initial level on any annual observation date
Pricing date:	Dec. 19
Settlement date:	Dec. 24
Agent:	Deutsche Bank Securities Inc.
Fees:	2.25%
Cusip:	25152RTE3

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