New Issue: Deutsche Bank sells $1.98 million capped knock-out notes on Topix Banks

By Marisa Wong

Morgantown, W.Va., Nov. 6 – Deutsche Bank AG, London Branch priced $1.98 million of 0% capped knock-out notes due Nov. 15, 2018 linked to the Topix Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par plus the index return, capped at 30%.

If the index return is negative but the final level is at least 85% of the initial level, the payout will be par.

Otherwise, the payout will be par plus the index return, with full exposure to losses.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped knock-out notes
Underlying index:	Topix Banks index
Amount:	$1,975,000
Maturity:	Nov. 15, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is zero or positive, par plus the index return, capped at 30%; if index return is negative but final level is at least 85% of initial level, par; otherwise, full exposure to decline from initial level
Initial index level:	199.91
Knock-out level:	169.92, 85% of initial level
Pricing date:	Oct. 27
Settlement date:	Nov. 1
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	25155MFB2

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