DEUTSCHE BANK AG - Deutsche Bank AG - Wave Expiry - TOPDWR

Deutsche Bank AG - Wave Expiry - TOPDWR

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

Notice of expiry WAVES

Please note the following WAVE has expired on 4 December 2014

 Barrier Level:                     50,000 index points
 Knock-Out Level:                   50,000 index points
 JSE Code:                          TOPDWR
 JSE Short Name:                    DB TOPPR W
 JSE Long Name:                     DB TOP 5000PR 0002 DEC14
 Isin Code:                         DE000DE8FQP6
 Final Prce:                        ZAR 12.465


The Warrants are exercisable only in accordance with the terms and conditions as set in
Deutsche Bank's programme memorandum and relevant pricing supplement ("the
documents").


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


4 December 2014

Deutsche Securities

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