DEUTSCHE BANK AG - Expiry of WAVE - TOPDWI

Expiry of WAVE - TOPDWI

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 WAVE has expired on 21 May 2015:

 Barrier Level:                     41,000 index points
 Knock-Out Level:                   41,000 index points
 JSE Code:                          TOPDWI
 JSE Short Name:                    DB TOPCIW
 JSE Long Name:                     DB TOP 4100CI 0002 MAY15
 Isin Code:                         DE000DE9SPT1
 Final Prce:                        ZAR 13.8300


The Warrant is exercisable only in accordance with the terms and conditions as set in
Deutsche Bank's programme memorandum and relevant pricing supplement ("the
documents"). The product pricing supplement is available on the website (www.x-
markets.db.com). Holders of WAVE are advised that the Expiration Price will be payable
on or about 28 May 2015.



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


22 May 2015

Date: 22/05/2015 09:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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