DEUTSCHE BANK AG - Deutsche Bank AG - Amendment to Stub - DBNPND

Deutsche Bank AG - Amendment to Stub - DBNPND

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

Rump Certificate on Naspers Ltd less Tencent Holdings Ltd
Share code: DBNPND
ISIN: DE000DT7G841

(“Naspers STUB”)

Notice: Change of Ratio and Collateral

Holders of Naspers STUB certificates are advised that in accordance with the
corporate action announcement by Naspers Limited the Ratio of the Naspers
Stub will change. The Ratio will change from 7.8091355 to 7.4727 effective
from 15 December 2015. Further to this, the collateral value will change from
ZAR 325.00 to ZAR 400.00. These changes are in accordance with the Programme
Memorandum and General Product Conditions. The adjustments are limited to the
Ratio and Collateral and will not have any effect on the theoretical value of
the Naspers STUB.



The amended product Pricing Supplement is available on www.xmarkets.db.com


15 December 2015

Manager or Issuer:
Deutsche Bank AG, London

For further information contact:
Tel:      +27 11 775 7824
E-mail:   x-markets@db.co.za

Date: 15/12/2015 10:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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