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Fri 15 May 2015, 8:30 DEUTSCHE BANK AG - Deutsche Bank AG- Expiry of WAVES (TOPDWF TOPDWG TOPDWH)
TOPDWH TOPDWG TOPDWF 201505150007A
Deutsche Bank AG- Expiry of WAVES (TOPDWF,TOPDWG,TOPDWH)

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 WAVES have expired on 14 May 2015:

Barrier Level:                     36,000 index points
Knock-Out Level:                   36,000 index points
JSE Code:                          TOPDWF
JSE Short Name:                    DB TOPCFW
JSE Long Name:                     DB TOP 3600CF 0002 MAY15
Isin Code:                         DE000DE9SJT4
Final Prce:                        ZAR 23.643


Barrier Level:                     38,000 index points
Knock-Out Level:                   38,000 index points
JSE Code:                          TOPDWG
JSE Short Name:                    DB TOPCGW
JSE Long Name:                     DB TOP 3800CG 0002 MAY15
Isin Code:                         DE000DE9SJU2
Final Price:                       ZAR 19.643




Barrier Level:                     39,000 index points
Knock-Out Level:                   39,000 index points
JSE Code:                          TOPDWH
JSE Short Name:                    DB TOPCHW
JSE Long Name:                     DB TOP 3900CH 0002 MAY15
Isin Code:                         DE000DE9SJS6
Final Price:                       ZAR 17.643



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


15 May 2015

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