New Issue: Deutsche prices $2.24 million leveraged notes linked to four currencies

By Jennifer Chiou

New York, June 17 – Deutsche Bank AG, London Branch priced $2,237,000 of 0% leveraged notes due June 16, 2017 linked to the performance of an equally weighted basket of currencies relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the Indian rupee, the Indonesian rupiah, the Turkish lira and the South African rand.

If the basket return is positive, the payout at maturity will be par plus 315% of the basket return, subject to an effective cap of $2,000 per $1,000 principal amount of notes. If the basket return is zero or negative, the payout will be par.

The final basket level will be the average of the basket's closing levels on the five trading days ending June 13, 2017.

J.P. Morgan Securities LLC is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Leveraged notes
Underlying currencies:	Indian rupee, Indonesian rupiah, Turkish lira and South African rand, equally weighted relative to euro
Amount:	$2,237,000
Maturity:	June 16, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 315% of any basket gain, capped at gain of 100%; floor of par
Initial spot rates:	80.79895 for rupee, 15,956.19 for rupiah, 2.87305 for lira, 14.55195 for rand
Pricing date:	June 13
Settlement date:	June 18
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	25152RLC5

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