New Issue: Deutsche Bank prices $1.84 million Stars on three airline sector stocks

By Marisa Wong

Madison, Wis., July 6 – Deutsche Bank AG, London Branch priced $1.84 million of 0% Strategic Accelerated Redemption Securities due July 12, 2019 linked to the worst performing of the common stocks of American Airlines Group Inc., Delta Air Lines, Inc. and United Continental Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call premium of 27.62% per year if each stock closes at or above its initial share price on any annual call observation date.

If the notes are not called, the payout at maturity will be par minus 1% for every 1% that the worst-performing stock finishes below its initial share price.

BofA Merrill Lynch is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Strategic Accelerated Redemption Securities
Underlying stocks:	American Airlines Group Inc. (Nasdaq: AAL), Delta Air Lines, Inc. (NYSE: DAL) and United Continental Holdings, Inc. (NYSE: UAL)
Amount:	$1,835,000
Maturity:	July 12, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless any stock falls, in which case exposure to any losses of worst-performing stock
Call:	At par plus call premium of 27.62% per year if each stock closes at or above its initial level on July 8, 2016, July 7, 2017, July 6, 2018 or July 5, 2019
Initial prices:	$39.94 for American, $41.08 for Delta, $53.01 for United
Pricing date:	June 30
Settlement date:	July 7
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	25156D514

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