Indicative Termsheet Express plus on Hang Seng China Enterprises, ishares MSCI Brazil, Russian Depositary Index USD

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Transcription:

1 / 5 522245 Product Description The Express coupon certificate (the Certificate ) is linked to the performance of three underlyings Hang Seng China Enterprises, (the Underlying ) and has a maturity of 5 years. The functionality of the certificate consists of three basic features: 1. Coupon Payments If the Official Closing Price of all the Underlyings is at or above the Coupon Barrier on the Annual Observation Date the Coupon is paid (5 days after the Annual Observation Date). In case the Official Closing Price of any of the Underlyings is below the Coupon Barrier, no coupon is paid. If one or more coupons are not paid, these can be paid jointly in a later year provided the coupon payment condition is met during a later year. The premium is paid even if the requirements for early redemption of the certificate (as described under 2.) are met. 2. Early Redemption In case the Official Closing Price of all the Underlyings is at or above the Autocall Barrier on one of the Annual Observation Dates, the certificate will be redeemed early by paying the Redemption Amount. Additionally, applicable coupon payments will be made. 3. Redemption at Maturity If the certificate is not redeemed early, the redemption amount is calculated as follows. (a) If the Closing of all the underlyings is above the Barrier on the Final Valuation Date: Eur 100 (b) Otherwise payment is linked to the performance of the worst performing underlying Indicative Terms and Conditions Issuer Issue Volume Underlyings Deutsche Bank AG, London 130.000 (up to 200.000) Certificates Hang Seng China Enterprises (Reuters RIC.HSCE) ishares MSCI Brazil (Reuters RIC EWZ.P) Russian Depositary Index USD (Reuters RIC.RDXUSD) Issue Price Up front Fee EUR 100.00 per Certificate Up to 4.00% of Issue Price, according to market conditions Subscription Period From 18 th February 2013 until 19 th April 2013 Trade Date 22 nd April 2013 Strike Date 23 rd April 2013 Issue Date 24 th April 2013 Final Valuation Date 9 th April 2018 Maturity/Final Settlement Date Initial Reference Five business days following the Final Valuation Date The Closing of each Underlying on Strike Date, equal to: 10425.09 for.hsce 53.8 for EWZ.P

2 / 5 1542.23 for.rdxusd Final Reference Coupon Barrier Coupon Payment Official Closing of the Underlying on the Final Valuation Date The determined for each respective Coupon Observation Date as stated in the table below, and equal to 60% of the Initial Reference If the Official Closing Price of all the Underlyings is at or above the Coupon Barrier on the Coupon Observation Date, a coupon will be paid for the respective period. In case a premium payment is omitted, it can be paid in a later period given that the condition for the Coupon Payment is met. Coupon Observation Coupon Barrier Date 08.04.2014 60% of the Initial Reference 08.04.2015 60% of the Initial Reference 08.04.2016 60% of the Initial Reference 10.04.2017 09.04.2018 60% of the Initial Reference 60% of the Initial Reference Coupon Payment Value Date for Coupon Payments Autocall Barrier Early Redemption Five business days following the Coupon Observation Date The determined for each Observation Date as stated in the table below, equal to 100% of the Initial Reference If the Official Closing Price of all the Underlyings is at or above the Autocall Barrier on an Observation Date, the Certificate will be early redeemed automatically by paying the Redemption Amounts stated in the table below. Observation Date Autocall Barrier Redemption Amount 08.04.2014 100% of the Initial Reference 08.04.2015 100% of the Initial Reference 08.04.2016 100% of the Initial Reference 10.04.2017 100% of the Initial Reference Value Date at Early Redemption Five business days following the relevant Observation Date Barrier 60% of the Initial Reference, equal to : 6255.054 for.hsce 32.28 for EWZ.P

3 / 5 925.338 for.rdxusd Redemption at Maturity On Final Reference Date, if the Certificate has not been already early redeemed: (a) If the Closing of each Underlying is greater than or equal its respective Barrier : 100 Eur (b) if the Closing any Underlying is lower than the Barrier : 100 Eur * (Final Laggard / Initial Laggard) Where: Final Laggard: Official Closing Laggard on the Final Reference Date Initial Laggard: Official Closing Laggard on the Strike Date Laggard: the least performing index within the Underlying basket on the Final Reference Date Calculation and Paying Agent Governing Law Listing Market Making Exercise Settlement Minimum Subscription Minimum Tradable Size Settlement Agent WKN ISIN Deutsche Bank AG, London English Law Application shall be made to list the securities on the EuroTLX Given regular market circumstances, Deutsche Bank AG is expected to continuously quote bid- and ask- prices without legally obliged to do so. The expected bit-ask spread is 1%. Automatic at Maturity Cash Settlement 1 Certificate 1 Certificate Euroclear and Clearstream DE9SPU DE000DE9SPU9

4 / 5 RISK WARNINGS: Credit Risk The investors bear the credit risk of Deutsche Bank AG ("Deutsche Bank") as Issuer of the Product. The value of the investment instrument depends not only on the Underlying but also on the solvency of the Issuer, which may vary over the lifetime of the Product. The Products are unsubordinated, unsecured contractual obligations of the Issuer. They do not benefit from any preference in rank. The insolvency of the Issuer may lead to a partial or total loss of the invested capital. Currency Risk The investor may be exposed to a currency risk, because the Product may be denominated, or may have a payment, in a currency other than that of the country in which the investor is resident. The value of the investment may therefore increase or decrease based on currency fluctuations. Product Risk Investors should note that the investment is not capital protected or guaranteed and investors should be prepared and able to sustain losses up to the total capital invested. The level of the Underlying may go down as well as up throughout the term of the Product. Furthermore, the level of the Underlying at any specific date may not reflect their prior or future performance. There can be no assurance as to the future performance of the Underlying. The Underlying may be volatile and this may result in a significant decline in its value and affect its tradeability. Fluctuations in the level of the Underlying may affect the value of the Product. If the value of the Underlying does not move in the anticipated direction, investors may receive a negative return on their investment. Index Risk An investment in the Index involves numerous other risks including interest rate, currency, macro economic and market (both developed and emerging market) risks. Also, changes in exchange rates may have an adverse effect on the value, price or income return of the product. These and other risks are interrelated in complex ways, and as a result, the effect of any one factor may be offset or magnified by the effect of another factor, and this marketing material does not identify all the risks (direct or indirect) or other considerations which might be material to you when entering into a transaction. Emerging Markets risk Investments in emerging markets may be subject to greater risks than investments in well developed markets, as a result of a number of considerations, including potentially significant legal and political risks. Such considerations may include greater risk of market shutdown, greater governmental involvement in the economy, less complete and reliable official data and, in some cases, greater volatility, greater liquidity risks, greater unpredictability and higher risk of civil or international conflict. Emerging markets may also be exposed to greater political and economic risks, such as the possibility of nationalisation, expropriation, political changes, social instability or other developments which could adversely affect the economies of such nations or the foreign exchange rates. The securities and/or bond markets of emerging market countries have witnessed significant volatility in the past. The value of the Underlying may be influenced by this volatility. The recurrence of these or similar problems could adversely affect the value and liquidity of the Underlying, which in turn may affect the liquidity and trading price of the Notes. Secondary Market Deutsche Bank AG ("Deutsche Bank") may provide a secondary market for the Product. Deutsche Bank AG ("Deutsche Bank") may provide bid/offer prices for the Product taking into account prevailing market conditions. There will be a price difference between bid and offer prices (i.e. the spread). It is not possible to predict the price at which the Product will trade in the market. Consequently, a purchaser must be prepared to hold the Product until the Maturity Date or risk to sell it at a price lower that the initial capital invested. Deutsche Bank AG 2013 TERMSHEET DISCLAIMER IMPORTANT NOTICE This term sheet has been prepared solely for discussion purposes and does not constitute an offer, an invitation or a recommendation to enter into any transaction. Terms and conditions herein are indicative and subject to change and/or negotiation between us. Full details of the final terms and conditions of these instruments will be contained in a prospectus or other offering document relating to this transaction, a copy of which will be available free of charge from Deutsche Bank ( DB ). Although the information herein has been obtained from sources believed to be reliable, we do not warrant its accuracy, completeness or fairness. Opinions and estimates may be changed without notice and involve a number of assumptions which may not prove valid. Past performance is not indicative of future results. Losses to investments may occur due to a variety of factors.

5 / 5 In the event you decide to enter the proposed transaction, DB will be trading with you on a principal to principal basis and any resale or on-sale of this product by you to a third party will not be in the capacity of agent for DB. If you decide to market and/or on-sell the product to third party investors you will be solely responsible for the marketing and on-selling to such investors and for assessing the suitability and appropriateness of the product for such investors. We are not acting as your financial adviser or in any other fiduciary capacity in respect of this proposed transaction or any other transaction with you unless otherwise agreed in writing. We or our affiliates or persons associated with us or such affiliates ("Associated Persons") may at any time maintain as part of our hedging or trading activities a long or short position in securities referred to herein or underlying constituents thereof, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, as well as earn brokerage or other compensation. Whilst DB s trading or hedging activities are not intended to have any significant impact upon prices, our dealings could affect the price you pay or receive for transactions in these or related securities. Calculations of returns on the securities referred to herein are linked to a particular market measure, reference entity, security or credit, the performance of which may affect the amount or timing of payments to be made or received in connection with this proposed transaction. As such, the securities may not be appropriate or suitable for persons unfamiliar with such basis of reference, or unwilling or unable to bear the risks associated with the securities. The securities referred to herein involve risk, which may include interest rate, index, currency, credit, political, liquidity, time value, share price volatility, commodity and market risk. In addition, products denominated in a currency other than the investor's home currency will be subject to changes in exchange rates, which may have an adverse effect on the value, price or income return of the products. These and other risks are interrelated in complex ways, and as a result, the effect of any one factor may be offset or magnified by the effect of another factor, and the term sheet does not identify all the risks (direct or indirect) or other considerations which might be material to you when entering into the transaction. Without limiting the above, investors may read more about pertinent risks of entering into a transaction of this nature at: www.globalmarkets.db.com/riskdisclosures. There may be no secondary market for the instruments and the products may not be readily realizable investments. This document and the information contained herein may only be distributed and published in jurisdictions in which such distribution and publication is permitted. Any direct or indirect distribution of this document into the United States, the United Kingdom, Canada or Japan, or to US persons or US residents, is prohibited. You may not distribute this document, in whole or part, without our prior, express written permission. BEFORE ENTERING INTO ANY TRANSACTION YOU SHOULD TAKE STEPS TO ENSURE THAT YOU UNDERSTAND AND HAVE MADE AN INDEPENDENT ASSESSMENT OF THE SUITABILITY AND APPROPRIATENESS OF THE TRANSACTION AND CONTRACTUAL RELATIONSHIP INTO WHICH YOU ARE ENTERING AND THE NATURE AND EXTENT OF YOUR EXPOSURE TO RISK OF LOSS IN LIGHT OF YOUR OWN OBJECTIVES, FINANCIAL AND OPERATIONAL RESOURCES AND OTHER RELEVANT CIRCUMSTANCES. YOU SHOULD TAKE SUCH INDEPENDENT INVESTIGATIONS AND SUCH PROFESSIONAL ADVICE AS YOU CONSIDER NECESSARY OR APPROPRIATE FOR SUCH PURPOSE. DB is authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervising Authority) and regulated by the Financial Services Authority for the conduct of UK business.