DEUTSCHE BANK AG - Deutsche Bank AG- Expiry of WAVEs: TOPDWR,TOPDWS

Deutsche Bank AG- Expiry of WAVEs: TOPDWR,TOPDWS

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 14 January 2016:

 Barrier Level:                     51,000 index points
 Knock-Out Level:                   51,000 index points
 JSE Code:                          TOPDWR
 JSE Short Name:                    DB TOPPRW
 JSE Long Name:                     DB TOP 5100PR 0002 JAN16
 Isin Code:                         DE000DT0TWJ8
 Final Price:                       ZAR 16.52

 Barrier Level:                     52,000 index points
 Knock-Out Level:                   52,000 index points
 JSE Code:                          TOPDWS
 JSE Short Name:                    DB TOPPSW
 JSE Long Name:                     DB TOP 5200PS 0002 JAN16
 Isin Code:                         DE000DT0TWM2
 Final Price:                       ZAR 18.52


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 21 January 2016.



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

15 January 2016

Date: 15/01/2016 08:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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