DEUTSCHE BANK AG - Listing of New WAVEs: TOPDWK,TOPDWY,TOPDWZ

Listing of New WAVEs: TOPDWK,TOPDWY,TOPDWZ

Deutsche Bank AG 
(incorporated on 10 March 1870 under the law of the Federal Republic of
Germany) acting through its London branch.

Issue of new Equity Index WAVEs


      Code                       TOPDWK
      Short Name                 DB TOPCKW
      Long Name                  DB TOP 4000CK 0002 JUL16
      Underlying Name            TOP40- Tradable
      Expiry                     14 July 2016
      Strike                     40000
      Barrier                    40000
      Cover                      5000:1
      No. of Securities          Up to 3000 000
      Listing date               12 January 2016
      ISIN                       DE000DT9N371

      Code                       TOPDWY
      Short Name                 DB TOPPYW
      Long Name                  DB TOP 4700PY 0002 JUL16
      Underlying Name            TOP40- Tradable
      Expiry                     14 July 2016
      Strike                     47000
      Barrier                    47000
      Cover                      5000:1
      No. of Securities          Up to 3000 000
      Listing date               12 January 2016
      ISIN                       DE000DT9N389

      Code                       TOPDWZ
      Short Name                 DB TOPPZW
      Long Name                  DB TOP 4800PZ 0002 JUL16
      Underlying Name            TOP40- Tradable
      Expiry                     14 July 2016
      Strike                     48000
      Barrier                    48000
      Cover                      5000:1
      No. of Securities          Up to 3000 000
      Listing date               12 January 2016
      ISIN                       DE000DT9N397



The JSE Limited Issuer Regulation Division has approved the listing of the above mentioned
WAVE/s and trading will commence on 12 January 2016. Settlement of the WAVE/s will be
effected electronically through the STRATE system of the JSE and accordingly, certificates
evidencing the WAVE/s will not be issued to holders. All members of the JSE may participate in
trading, which will occur according to normal JSE rules. The product Pricing Supplement is
available on www.x-markets.db.com. The securities contain a knock-out feature. Investors should
be aware of the fact that as soon as a Knock-out Event has occurred the securities become
worthless.


For further information contact:
X-markets Team
Tel:           +27 11 775 7014
E-mail:        x-markets@db.co.za

Deutsche Securities

12 January 2016

Date: 12/01/2016 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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