New Issue: Deutsche Bank prices $2.67 million digital return notes linked to crude

By Susanna Moon

Chicago, May 13 - Deutsche Bank AG, London Branch priced $2.67 million of 0% digital return notes due July 14, 2015 linked to WTI crude oil futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.

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

If the price of crude finishes at or above the 82.5% trigger level, the payout at maturity will be par plus the digital return of 10%.

Otherwise, investors will be fully exposed to any losses.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Digital return notes
Underlying commodity:	WTI crude oil futures contracts
Amount:	$2.67 million
Maturity:	July 14, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10% if crude finishes at or above trigger level; otherwise, full exposure to losses
Initial price:	$99.99
Trigger price:	$82.49, 82.5% of initial price
Pricing date:	May 9
Settlement date:	May 14
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.2%
Cusip:	25152RKB8

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