DEUTSCHE BANK AG - Deutsche Bank AG- Expiry of WAVEs: TOPDWB, TOPDWC

Deutsche Bank AG- Expiry of WAVEs: TOPDWB, TOPDWC

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

Notice of expiry WAVE

Please note the following WAVEs have expired on 3 December 2015:

 Barrier Level:                     40,000 index points
 Knock-Out Level:                   40,000 index points
 JSE Code:                          TOPDWB
 JSE Short Name:                    DB TOPCBW
 JSE Long Name:                     DB TOP 4000CB 0002 DEC15
 Isin Code:                         DE000DT7G4X9
 Final Prce:                        ZAR 10.74

 Barrier Level:                     38,000 index points
 Knock-Out Level:                   38,000 index points
 JSE Code:                          TOPDWC
 JSE Short Name:                    DB TOPCCW
 JSE Long Name:                     DB TOP 3800CC 0002 DEC15
 Isin Code:                         DE000DT7G4Y7
 Final Prce:                        ZAR 14.74


The Warrants are exercisable only in accordance with the terms and conditions as set in
Deutsche Bank's programme memorandum and relevant pricing supplements ("the
documents"). The product pricing supplement is available on the website (www.x-
markets.db.com). Holders of the WAVEs are advised that the Expiration Price will be
payable on or about 10 December 2015.



For further information contact:
X-markets - Tel (011) 775-7014
or e-mail x-markets.za@db.com

4 December 2015

Date: 04/12/2015 11:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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