New Issue: Deutsche Bank prices $25 million digital return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Feb. 5 – Deutsche Bank AG, London Branch priced $25 million of 0% digital return notes due Feb. 23, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to 80% of the initial level, the payout at maturity will be par plus 7.75%. Otherwise, investors will be fully exposed to the index’s decline from its initial level.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Digital return notes
Underlying index:	S&P 500
Amount:	$25 million
Maturity:	Feb. 23, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above trigger level, par plus 7.75%; otherwise, full exposure to index’s decline from initial level
Initial index level:	1,912.53
Final index level: Average of index’s closing levels on five trading days ending Feb. 17, 2017
Trigger level:	1,530.02, 80% of initial level
Pricing date:	Feb. 3
Settlement date:	Feb. 8
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	2515A1N49

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