New Issue: Deutsche Bank sells $45 million capped leveraged buffered notes on S&P

By Susanna Moon

Chicago, Dec. 2 – Deutsche Bank AG, London Branch priced $45.07 million of 0% Capped Leveraged Index Return Notes due Nov. 23, 2016 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.4 times any index gain, up to a maximum payment of $1,184.80 per $1,000 principal amount.

Investors will receive par if the index falls by up to 10% and will lose 1.11111% for every 1% decline beyond 10%.

BofA Merrill Lynch is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500 index
Amount:	$45,074,640
Maturity:	Nov. 23, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 140% of any index gain, capped at 18.4%; par if index declines by 10% or less; 1.11111% loss for every 1% drop beyond 10%
Initial level:	2,067.03
Barrier level:	1,860.33, 90% of initial level
Pricing date:	Nov. 25
Settlement date:	Dec. 3
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	25190A823

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