New Wave Listing - TOPDWF, TOPDWG, TOPDWH and TOPDWW Deutsche Bank AG (incorporated under the law of the Federal Republic of Germany) acting through its London branch. Issue of new Equity Index WAVEs Code TOPDWF Short Name DB TOPCFW Long Name DB TOP 3600CF 0002 MAY15 Underlying Name TOP40- Tradable Expiry 14 May 2015 Strike 36000 Barrier 36000 Cover 5000:1 No. of Securities Up to 3000 000 Listing date 16 October 2014 ISIN DE000DE9SJT4 Code TOPDWG Short Name DB TOPCGW Long Name DB TOP 3800CG 0002 MAY15 Underlying Name TOP40- Tradable Expiry 14 May 2015 Strike 38000 Barrier 38000 Cover 5000:1 No. of Securities Up to 3000 000 Listing date 16 October 2014 ISIN DE000DE9SJU2 Code TOPDWH Short Name DB TOPCHW Long Name DB TOP 3900CH 0002 MAY15 Underlying Name TOP40- Tradable Expiry 14 May 2015 Strike 39000 Barrier 39000 Cover 5000:1 No. of Securities Up to 3000 000 Listing date 16 October 2014 ISIN DE000DE9SJS6 Code TOPDWW Short Name DB TOPPWW Long Name DB TOP 4500PW 0002 MAY15 Underlying Name TOP40- Tradable Expiry 14 May 2015 Strike 45000 Barrier 45000 Cover 5000:1 No. of Securities Up to 3000 000 Listing date 16 October 2014 ISIN DE000DE9SJQ0 The JSE Limited Issuer Services Division has approved the listing of the above mentioned WAVE/s and trading will commence on 16 October 2014. 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. Copies of the pricing supplement can be obtained from Deutsche Securities (Pty) Limited. 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 16 October 2014 Date: 16/10/2014 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.