Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-184193
Dated February 25, 2015
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDD: DB Base Metals Double Long ETN
BDD
Prospectus ETN
Total Notes Outstanding: $2,751,883 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
The DB Base Metals Double Long ETN (Symbol: BDD) is part of the "DB Base Metals
ETNs" collection. DB Base Metals ETNs provide investors a way to take a long,
short or leveraged view on the performance of base metals. All of the DB Base
Metals Exchange Traded Notes are based on a total return version of the
Deutsche Bank Liquid Commodity Index Optimum Yield Industrial Metals[], which
is intended to track the long or short performance of futures contracts
relating to aluminum, copper and zinc. Any payment at maturity or upon early
redemption is subject to Deutsche Bank AG's ability to pay its obligations as
they become due. Investors can buy and sell the DB Base Metals ETNs at market
price on the NYSE Arca exchange or receive a cash payment at the scheduled
maturity or early repurchase based on the month-over-month performance of the
index less investor fees. Investors may redeem the DB Base Metals ETNs in
blocks of no less than 5,000 securities and integral multiples of 5,000
securities thereafter, subject to the procedures described in the pricing
supplement, which may include a fee of up to $0.03 per security. Leveraged ETNs
are not suitable for all investors.
Regulatory Documents
PROSPECTUS
Risks Benefits
Non-principal protected Leveraged long notes Leveraged losses Relatively low
cost Subject to investor fee Intraday access Limitations on repurchase Listed
Concentrated exposure to notional Transparent positions in base metal commodity
futures contracts
1
|
 |
Acceleration risk
Lack of liquidity
BDD Profile
Inception Date: 06/16/2008 ETN Price at Initial Listing: $25.00 Maturity Date:
6/1/2038 Listing Exchange: NYSE Arca Yearly Investor Fee: 0.75% Ticker: BDD
CUSIP: 25154K841
Indicative Value
Intraday Indicative Security Value: $6.63 1 Last End of Day Value: $6.71 Last
End of Day Date: 02/24/2015
1 The intraday indicative security value is meant to approximate the economic
value of the ETNs at any given time during a trading day. The intraday
indicative security value is a calculated value (calculated in accordance with
the formula set forth in the pricing supplement) and is not the same as the
trading price of the ETNs and is not a price at which you can buy or sell the
ETNs in the secondary market. The actual trading price of the ETNs in the
secondary market may vary significantly from their intraday indicative security
value.
About the Note's Index
Last Updated 02/24/2015
Index Ticker: DBBMIX
Component Contract Weight Date %
Aluminium 21-Oct-2015 33.29
Copper - Grade 15-Apr-2015 32.55 A
BDD Financial Details
As of 24-Feb-2015 11:55 AM
Last Trade: Bid: Ask:
$6.80 $6.48 $0.00
Open: High: Low:
$0.00 $6.80 $6.80
----------- -------------- -------
Pricing Snapshot
Current Pricing 52 Week
2
|
 |
Component Contract Weight
Date %
Zinc 17-Feb-2016 34.15
BDD News and Updates
2 | 25 | 2015
Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs)
3 | 7 | 2014
Press Release: Deutsche Asset and Wealth Management reduces redemption size of
twelve ETNs
4 | 15 | 2013
Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes
3 | 14 | 2013
Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange
Traded Notes
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
Risks of investing in the ETNs include limited portfolio diversification,
uncertain principal repayment, trade price fluctuations, illiquidity and
leveraged losses. The leveraged ETNs are leveraged investments. As such, it is
likely to be more volatile than an unleveraged investment. There is also a
greater risk of loss of principal associated with a leveraged investment than
with an unleveraged investment.
The ETNs may be sold throughout the day on NYSE Arca through any brokerage
account. Ordinary brokerage commissions apply. Sales in the secondary market
may result in losses. There are restrictions on the minimum number of ETNs that
you may redeem directly with Deutsche Bank AG, London Branch, as specified in
the applicable pricing supplement.
The ETNs provide concentrated exposure to notional positions in aluminum,
copper and zinc futures contracts. The market value of the ETNs may be
influenced by many unpredictable factors, including, among other things,
volatile base metal prices, changes in supply and demand relationships, changes
in interest rates, and monetary and other governmental actions. Because the
ETNs provide concentrated exposure to notional positions in futures contracts
of a single commodity sector, they are speculative and generally will exhibit
higher volatility than commodity products linked to more than one commodity
sector.
An Investment in the ETNs involves risks, including the loss of some or all of
the principal amount. For a description of the main risks, see "Risk Factors"
in the applicable pricing supplement and the accompanying prospectus supplement
and prospectus. An investor should consider the ETNs' investment objective,
risks, charges and expenses carefully before investing.
Depending on market demand, Deutsche Bank AG may create and issue additional
ETNs that may be offered and sold from time to time in amounts to be determined
solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to
sell additional ETNs at any time, and if Deutsche Bank AG does sell additional
ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at
any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the
price and liquidity of such ETNs in the secondary market could be materially
and adversely affected.
Not FDIC Insured -- No Bank Guarantee -- May Lose Value
Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a
registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or
registered trademarks are the property of their respective owners. Your use of
this site signifies that you accept our Terms and Conditions of Use.
3
|
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDD: DB Base Metals Double Long ETN
BDD
Prospectus ETN
Total Notes Outstanding: $2,751,883 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Total Returns (%)
as of Jan 2015[] Quarter-end Month-end
Cumulative Average Annualized
1 Month 3 Months 6 Months YTD 1 Year 3 Year 5 Year Since
Inception
Underlying Index
-------------------- ---------- ---------- ----- ------- -------- --------- ----------
DBIQ -5.22 -11.57 -13.69 -5.22 -4.42 -9.14 -4.50 -5.79
Optimum
Yield
Industrial
Metals
Index
ETN repurchase value performance figures reflect repurchase value, which is the
amount per note you will be entitled to receive upon any early repurchase.
Investors are required to offer a minimum number of notes (found in pricing
supplement) to be eligible to effect a repurchase. Repurchase value takes into
account the current principal amount and the monthly returns from the relevant
indexes, less the investor fee. As a result, the ETN performance would have
been lower than the relevant index. See the prospectus for more complete
information. Investors holding less than the minimum number of shares required
to effect a repurchase would have to sell their shares at prevailing market
prices, which may be at a significant discount to the repurchase value. Indexes
are unmanaged, and you cannot invest directly in an index. PAST PERFORMANCE
DOES NOT GUARANTEE FUTURE RESULTS. Performance data current to the most recent
month end can be obtained by calling 1-855-329-3837 or by visiting
www.deutsche-etfs.com.
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
4
|
 |
Each ETN offers investors exposure to the month-over-month performance of its respective index measured from the first calendar day to the last calendar day of each month. The inverse or leveraged ETNs may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term inverse and/or leveraged investment results by means of securities that reset their exposure monthly, resulting in the compounding of monthly returns. Investing in the ETNs is not equivalent to a direct investment in the index or index components. The principal amount is also subject to the monthly application of the investor fee, which can adversely affect returns. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. If at any time the repurchase value of the ETNs is zero, the relevant ETNs will be accelerated and you will lose your entire investment in such ETNs. As described in the relevant pricing supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to the repurchase value. Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 5 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDD BDD: DB Base Metals Double Long ETN
Prospectus
ETN
Total Notes Outstanding: $2,751,883 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
News
2 | 25 | 2015
Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs)
3 | 7 | 2014
Press Release: Deutsche Asset and Wealth Management reduces redemption size of twelve ETNs
4 | 15 | 2013
Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes
3 | 14 | 2013
Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange Traded Notes
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
6
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 7 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDD: DB Base Metals Double Long ETN
BDD
Prospectus ETN
Total Notes Outstanding: $2,751,883 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Related Materials
BDD Prospectus PDF
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
8
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 9 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDD: DB Base Metals Double Long ETN
BDD
Prospectus ETN
Total Notes Outstanding: $2,751,883 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
FAQ's
What is an Exchange Traded Note (ETN)?
An ETN is a senior, unsecured, unsubordinated debt security issued by a
financial institution that can be bought and sold on an exchange. Unlike
traditional debt securities, ETNs do not guarantee investors any return of
principal. Instead, the returns of ETNs are based on the performance, whether
negative or positive, of an underlying index that provides exposure to one or
more underlying asset classes, including commodity, currency, equity and fixed
income assets. In addition, investors in ETNs have no ownership interest in the
underlying assets and are subject to the credit risk of the issuer.
What risks are associated with ETNs?
Unlike traditional debt securities, the principal of ETNs is not protected.
Returns of ETNs will be positively affected by any favorable performance and
negatively affected by any adverse performance of the underlying index. For
leveraged ETNs, any gain or loss related to the underlying index will be
amplified.
ETN investors are also exposed to issuer credit risk. As a result, the issuer's
actual and perceived creditworthiness will affect the market value of the ETNs,
and in the event the issuer were to default on its payment obligations,
investors may not receive any amount owed to them under the terms of the ETNs.
Investors in ETNs have no recourse to any underlying assets.
Do the ETNs replicate a direct investment in the underlying index?
Investing in the ETNs is not equivalent to a direct investment in the
underlying index or index components. Investors have no recourse to any
underlying assets and the principal amount
10
|
 |
(the amount you invested) is also subject to the applicable investor fees, which can adversely affect returns. What are Leveraged ETNs? Leveraged ETNs are designed to amplify returns related to an underlying index, whether positive or negative. Leveraged ETNs typically attempt to provide double or triple returns of an underlying index over a predetermined period of time, usually daily or monthly. The current principal amount is reset each day or month to ensure that a consistent degree of leverage is applied to any performance of the underlying index. If the current principal amount is reduced by a negative daily or monthly performance, any further negative daily or monthly performance will lead to a smaller loss when applied to that reduced current principal amount. However, if the current principal amount increases, the loss for a certain level of negative daily or monthly performance will increase correspondingly. Resetting the current principal amount also means that any gain from a positive daily or monthly performance will be contingent upon the current principal amount. The leverage feature and the daily or monthly reset of the principal amount will cause the performance of the ETNs to differ significantly from the point-to-point performance of the underlying index. Leveraged ETNs may not be suitable for all investors. What makes Deutsche Bank's Leveraged ETNs different from other Leveraged ETPs? Deutsche Bank offers a number of leveraged ETNs, the returns of which are reset on a monthly basis, as compared to other leveraged ETNs in the market that reset on a daily basis. ETNs reset on a daily basis are typically designed to achieve their stated objectives on a daily basis. Due to the effects of the leverage feature and the daily reset of the principal amount, the performance of leveraged ETNs over longer periods of time can differ significantly from the point-to-point performance of the underlying index. Deutsche Bank ETNs offer investors exposure to the month-over-month performance of its respective underlying index measured from the first calendar day to the last calendar day of each month. While Deutsche Bank's monthly reset ETNs lessen the deviation to the underlying index to certain degree, they may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date, and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term leveraged investment results by means of securities that reset their exposure monthly. How do I buy and sell ETNs? ETNs are traded on an exchange. Investors can buy or sell ETNs through their broker on a U.S. securities exchange during market hours. Who is the issuer for the DB ETNs? The DB ETNs are issued by Deutsche Bank AG, London Branch and are subject to the credit risk of Deutsche Bank AG. For more information about Deutsche Bank AG, you can review 11 |
 |
Deutsche Bank's annual report on Form 20-F and Interim Reports on Form 6-K at
www.sec.gov.
Do the DB ETNs pay interest and dividends?
These ETNs do not pay any interest or dividends.
What is the Deutsche Bank Optimum Yield[] strategy?
A number of commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM
(OY) strategy, which is an innovative methodology designed to address negative
roll yields in contango markets. In general, as a futures contract approaches
its expiration date, its price moves towards the spot price. In a contango
market, assuming the spot price does not change, this results in the futures
contract price decreasing and a negative implied roll yield. The opposite is
true in a backwardation market. By evaluating each of the available contracts
and roll to the contract that has the best implied, annualized roll yield, the
Optimum YieldTM strategy seeks to maximize the gains from rolling in
backwardation markets and minimize the losses from rolling in contango markets.
Click here to learn more about Optimum YieldTM.
Why is the Deutsche Bank Optimum Yield[] strategy valuable to ETN investors?
When markets are in contango, returns of traditional commodity ETNs will be
adversely affected by the negative roll yields. The long and double long
commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM (OY)
strategy, which is designed to maximize the positive roll yields in
backwardation markets and minimize the negative roll yields in contango
markets. Click here to learn more about Optimum YieldTM.
How are ETNs taxed?
In determining our tax reporting responsibilities, if any, with respect to the
ETNs, we expect to treat them for U.S. federal income tax purposes as prepaid
financial contracts that are not debt. If this treatment is respected, subject
to any special considerations described in the relevant pricing supplement, (i)
you should not recognize taxable income or loss prior to the taxable
disposition of your Deutsche X-trackers ETNs (including at maturity or upon
early redemption), (ii) in the case of equity-linked or commodity-linked ETNs,
your gain or loss on the ETNs should be capital gain or loss, and (iii) 1099s,
not K-1s, will be the tax reporting forms received. However, significant
aspects of the tax treatment of the ETNs are uncertain. If the Internal Revenue
Service ("IRS") were successful in asserting an alternative treatment for the
ETNs, the tax consequences of ownership and disposition of the ETNs could
differ materially and adversely from those described briefly above. In
addition, in 2007 the U.S. Treasury Department and the IRS released a notice
requesting comments on the tax treatment of "prepaid forward contracts" and
similar instruments. Any resulting guidance could materially and adversely
affect the tax consequences of an investment in the ETNs, possibly with
retroactive effect.
12
|
 |
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder Market Makers Downloads Individual Investor Info Risks for the DB Exchange Traded Notes Deutsche Bank AG, London Branch has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents filed by Deutsche Bank AG, London Branch for more complete information about the issuer and this offering. You may get these documents for free by visiting www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov. Alternatively, you may request a prospectus by calling 1-877-369-4617, or you may request a copy from any dealer participating in this offering. The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch, and the amount due on the ETNs is dependent on Deutsche Bank AG, London Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. Each ETN offers investors exposure to the month-over-month performance of its respective index measured from the first calendar day to the last calendar day of each month. The inverse or leveraged ETNs may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term inverse and/or leveraged investment results by means of securities that reset their exposure monthly, resulting in the compounding of monthly returns. Investing in the ETNs is not equivalent to a direct investment in the index or index components. The principal amount is also subject to the monthly application of the investor fee, which can adversely affect returns. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. If at any time the repurchase value of the ETNs is zero, the relevant ETNs will be accelerated and you will lose your entire investment in such ETNs. As described in the relevant pricing supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to the repurchase value. Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 13 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDG: DB Base Metals Long ETN
BDG
Prospectus ETN
Total Notes Outstanding: $1,034,810 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
DB Base Metals Long ETN (Symbol: BDG) is part of the "DB Base Metals ETNs"
collection. DB Base Metals ETNs provide investors a way to take a long, short
or leveraged view on the performance of base metals. All of the DB Base Metals
Exchange Traded Notes are based on a total return version of the Deutsche Bank
Liquid Commodity Index Optimum Yield Industrial Metals[], which is intended to
track the long or short performance of futures contracts relating to aluminum,
copper and zinc. Any payment at maturity or upon early redemption is subject to
Deutsche Bank AG's ability to pay its obligations as they become due. Investors
can buy and sell the DB Base Metals ETNs at market price on the NYSE Arca
exchange or receive a cash payment at the scheduled maturity or early
repurchase based on the month-over-month performance of the index less investor
fees. Investors may redeem the DB Base Metals ETNs in blocks of no less than
5,000 securities and integral multiples of 5,000 securities thereafter, subject
to the procedures described in the pricing supplement, which may include a fee
of up to $0.03 per security.
Regulatory Documents
PROSPECTUS
Risks Benefits
Non-principal protected Unleveraged long notes
Subject to an investor fee Relatively low cost
Limitations on repurchase Intraday access
Concentrated exposure to notional Listed
positions in base metal commodity futures
contracts Transparent
Credit risk of the issuer
14
|
 |
Lack of liquidity BDG Profile Inception Date: 06/16/2008 ETN Price at Initial Listing: $25.00 Maturity Date: 6/1/2038 Listing Exchange: NYSE Arca Yearly Investor Fee: 0.75% Ticker: BDG CUSIP: 25154K825 Indicative Value Intraday Indicative Security Value: $16.07 1 Last End of Day Value: $16.17 Last End of Day Date: 02/24/2015 1 The intraday indicative security value is meant to approximate the economic value of the ETNs at any given time during a trading day. The intraday indicative security value is a calculated value (calculated in accordance with the formula set forth in the pricing supplement) and is not the same as the trading price of the ETNs and is not a price at which you can buy or sell the ETNs in the secondary market. The actual trading price of the ETNs in the secondary market may vary significantly from their intraday indicative security value. About the Note's Index Last Updated 02/24/2015 Index Ticker: DBBMIX BDG Financial Details As of 24-Feb-2015 01:06 PM Last Trade: Bid: Ask: $16.13 $0.00 $0.00 Open: High: Low: $0.00 $16.33 $16.08 Pricing Snapshot Current Pricing 52 Week Component Contract Weight Date % Aluminium 21-Oct-2015 33.29 Copper - Grade 15-Apr-2015 32.55 A Zinc 17-Feb-2016 34.15 15 |
 |
BDG News and Updates 2 | 25 | 2015 Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs) 3 | 7 | 2014 Press Release: Deutsche Asset and Wealth Management reduces redemption size of twelve ETNs 4 | 15 | 2013 Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes 3 | 14 | 2013 Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange Traded Notes Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder Market Makers Downloads Individual Investor Info Risks for the DB Exchange Traded Notes Deutsche Bank AG, London Branch has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents filed by Deutsche Bank AG, London Branch for more complete information about the issuer and this offering. You may get these documents for free by visiting www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov. Alternatively, you may request a prospectus by calling 1-877-369-4617, or you may request a copy from any dealer participating in this offering. The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch, and the amount due on the ETNs is dependent on Deutsche Bank AG, London Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. Each ETN offers investors exposure to the month-over-month performance of its respective index measured from the first calendar day to the last calendar day of each month. The inverse or leveraged ETNs may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term inverse and/or leveraged investment results by means of securities that reset their exposure monthly, resulting in the compounding of monthly returns. Investing in the ETNs is not equivalent to a direct investment in the index or index components. The principal amount is also subject to the monthly application of the investor fee, which can adversely affect returns. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. If at any time the repurchase value of the ETNs is zero, the relevant ETNs will be accelerated and you will lose your entire investment in such ETNs. As described in the relevant pricing supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to the repurchase value. Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 16 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative,
call (877) 369-4617.
Advisors:
To speak with an ETF sales representative,
call (844) 851-4255.
Related Products
DB Base Metals
BDD Double Long ETN
ETN
DB Base Metals
BOM Double Short ETN
ETN
DB Base Metals
BOS Short ETN
ETN
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
BDG BDG: DB Base Metals Long ETN
Prospectus
ETN
Total Notes Outstanding: $1,034,810 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Total Returns (%)
as of Jan 2015[] Quarter-end Month-end
Cumulative Average Annualized
1 Month 3 Months 6 Months YTD 1 Year 3 Year 5 Year Since Inception
Underlying Index
DBIQ -5.22 -11.57 -13.69 -5.22 -4.42 -9.14 -4.50 -5.79 Optimum Yield Industrial
Metals Index
ETN repurchase value performance figures reflect repurchase value, which is the
amount per note you will be entitled to receive upon any early repurchase.
Investors are required to offer a minimum number of notes (found in pricing
supplement) to be eligible to effect a repurchase. Repurchase value takes into
account the current principal amount and the monthly returns from the relevant
indexes, less the investor fee. As a result, the ETN performance would have
been lower than the relevant index. See the prospectus for more complete
information. Investors holding less than the minimum number of shares required
to effect a repurchase would have to sell their shares at prevailing market
prices, which may be at a significant discount to the repurchase value. Indexes
are unmanaged, and you cannot invest directly in an index. PAST PERFORMANCE
DOES NOT GUARANTEE FUTURE RESULTS. Performance data current to the most recent
month end can be obtained by calling 1-855-329-3837 or by visiting
www.deutsche-etfs.com.
17
|
 |
Each ETN offers investors exposure to the month-over-month performance of its respective index measured from the first calendar day to the last calendar day of each month. The inverse or leveraged ETNs may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term inverse and/or leveraged investment results by means of securities that reset their exposure monthly, resulting in the compounding of monthly returns. Investing in the ETNs is not equivalent to a direct investment in the index or index components. The principal amount is also subject to the monthly application of the investor fee, which can adversely affect returns. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. If at any time the repurchase value of the ETNs is zero, the relevant ETNs will be accelerated and you will lose your entire investment in such ETNs. As described in the relevant pricing supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to the repurchase value. Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 18 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDG BDG: DB Base Metals Long ETN
Prospectus
ETN
Total Notes Outstanding: $1,034,810 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
News
2 | 25 | 2015
Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs)
3 | 7 | 2014
Press Release: Deutsche Asset and Wealth Management reduces redemption size of twelve ETNs
4 | 15 | 2013
Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes
3 | 14 | 2013
Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange Traded Notes
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
19
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 20 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS DB Base Metals Short ETN
ETN
BDG: DB Base Metals Long ETN
BDG
Prospectus ETN
Total Notes Outstanding: $1,034,810 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Related Materials
BDG Prospectus PDF
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
21
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 22 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative,
call (877) 369-4617.
Advisors:
To speak with an ETF sales representative,
call (844) 851-4255.
Related Products
DB Base Metals
BDD Double Long ETN
ETN
DB Base Metals
BOM Double Short ETN
ETN
DB Base Metals
BOS Short ETN
ETN
BDG: DB Base Metals Long ETN
BDG
Prospectus ETN
Total Notes Outstanding: $1,034,810 - As of: 02/24/2015
Overview Performance News Related Materials
FAQ's
What is an Exchange Traded Note (ETN)?
An ETN is a senior, unsecured, unsubordinated debt security issued by a
financial institution that can be bought and sold on an exchange. Unlike
traditional debt securities, ETNs do not guarantee investors any return of
principal. Instead, the returns of ETNs are based on the performance, whether
negative or positive, of an underlying index that provides exposure to one or
more underlying asset classes, including commodity, currency, equity and fixed
income assets. In addition, investors in ETNs have no ownership interest in the
underlying assets and are subject to the credit risk of the issuer.
What risks are associated with ETNs?
Unlike traditional debt securities, the principal of ETNs is not protected.
Returns of ETNs will be positively affected by any favorable performance and
negatively affected by any adverse performance of the underlying index. For
leveraged ETNs, any gain or loss related to the underlying index will be
amplified.
ETN investors are also exposed to issuer credit risk. As a result, the issuer's
actual and perceived creditworthiness will affect the market value of the ETNs,
and in the event the issuer were to default on its payment obligations,
investors may not receive any amount owed to them under the terms of the ETNs.
Investors in ETNs have no recourse to any underlying assets.
Do the ETNs replicate a direct investment in the underlying index?
Investing in the ETNs is not equivalent to a direct investment in the
underlying index or index components. Investors have no recourse to any
underlying assets and the principal amount
23
|
 |
(the amount you invested) is also subject to the applicable investor fees, which can adversely affect returns. How do I buy and sell ETNs? ETNs are traded on an exchange. Investors can buy or sell ETNs through their broker on a U.S. securities exchange during market hours. Who is the issuer for the DB ETNs? The DB ETNs are issued by Deutsche Bank AG, London Branch and are subject to the credit risk of Deutsche Bank AG. For more information about Deutsche Bank AG, you can review Deutsche Bank's annual report on Form 20-F and Interim Reports on Form 6-K at www.sec.gov. Do the DB ETNs pay interest and dividends? These ETNs do not pay any interest or dividends. What is the Deutsche Bank Optimum Yield[] strategy? A number of commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM (OY) strategy, which is an innovative methodology designed to address negative roll yields in contango markets. In general, as a futures contract approaches its expiration date, its price moves towards the spot price. In a contango market, assuming the spot price does not change, this results in the futures contract price decreasing and a negative implied roll yield. The opposite is true in a backwardation market. By evaluating each of the available contracts and roll to the contract that has the best implied, annualized roll yield, the Optimum YieldTM strategy seeks to maximize the gains from rolling in backwardation markets and minimize the losses from rolling in contango markets. Click here to learn more about Optimum YieldTM. Why is the Deutsche Bank Optimum Yield[] strategy valuable to ETN investors? When markets are in contango, returns of traditional commodity ETNs will be adversely affected by the negative roll yields. The long and double long commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM (OY) strategy, which is designed to maximize the positive roll yields in backwardation markets and minimize the negative roll yields in contango markets. Click here to learn more about Optimum YieldTM. 24 |
 |
How are ETNs taxed?
In determining our tax reporting responsibilities, if any, with respect to the
ETNs, we expect to treat them for U.S. federal income tax purposes as prepaid
financial contracts that are not debt. If this treatment is respected, subject
to any special considerations described in the relevant pricing supplement, (i)
you should not recognize taxable income or loss prior to the taxable
disposition of your Deutsche X-trackers ETNs (including at maturity or upon
early redemption), (ii) in the case of equity-linked or commodity-linked ETNs,
your gain or loss on the ETNs should be capital gain or loss, and (iii) 1099s,
not K-1s, will be the tax reporting forms received. However, significant
aspects of the tax treatment of the ETNs are uncertain. If the Internal Revenue
Service ("IRS") were successful in asserting an alternative treatment for the
ETNs, the tax consequences of ownership and disposition of the ETNs could
differ materially and adversely from those described briefly above. In
addition, in 2007 the U.S. Treasury Department and the IRS released a notice
requesting comments on the tax treatment of "prepaid forward contracts" and
similar instruments. Any resulting guidance could materially and adversely
affect the tax consequences of an investment in the ETNs, possibly with
retroactive effect.
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
Risks of investing in the ETNs include limited portfolio diversification,
uncertain principal repayment, trade price fluctuations, illiquidity and
leveraged losses. The leveraged ETNs are leveraged investments. As such, it is
likely to be more volatile than an unleveraged investment. There is also a
greater risk of loss of principal associated with a leveraged investment than
with an unleveraged investment.
The ETNs may be sold throughout the day on NYSE Arca through any brokerage
account. Ordinary brokerage commissions apply. Sales in the secondary market
may result in losses. There are restrictions on the minimum number of ETNs that
you may redeem directly with Deutsche Bank AG, London Branch, as specified in
the applicable pricing supplement.
The ETNs provide concentrated exposure to notional positions in aluminum,
copper and zinc futures contracts. The market value of the ETNs may be
influenced by many unpredictable factors, including, among other things,
volatile base metal prices, changes in supply and demand relationships, changes
in interest rates, and monetary and other governmental actions. Because the
ETNs provide concentrated exposure to notional positions in futures contracts
of a single commodity sector, they are speculative and generally will exhibit
higher volatility than commodity products linked to more than one commodity
sector.
An Investment in the ETNs involves risks, including the loss of some or all of
the principal amount. For a description of the main risks, see "Risk Factors"
in the applicable pricing supplement and the accompanying prospectus supplement
and prospectus. An investor should consider the ETNs' investment objective,
risks, charges and expenses carefully before investing.
Depending on market demand, Deutsche Bank AG may create and issue additional
ETNs that may be offered and sold from time to time in amounts to be determined
solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to
sell additional ETNs at any time, and if Deutsche Bank AG does sell additional
ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at
any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the
price and liquidity of such ETNs in the secondary market could be materially
and adversely affected.
Not FDIC Insured -- No Bank Guarantee -- May Lose Value
Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a
registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or
registered trademarks are the property of their respective owners. Your use of
this site signifies that you accept our Terms and Conditions of Use.
25
|
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOS DB Base Metals Short ETN
ETN
BOM BOM: DB Base Metals Double Short ETN
Prospectus
ETN
Total Notes Outstanding: $2,449,285 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
The DB Base Metals Double Short ETN (Symbol: BOM) is part of the "DB Base
Metals ETNs" collection. DB Base Metals ETNs provide investors a way to take a
long, short or leveraged view on the performance of base metals. All of the DB
Base Metals Exchange Traded Notes are based on a total return version of the
Deutsche Bank Liquid Commodity Index Optimum Yield Industrial Metals[], which
is intended to track the long or short performance of futures contracts
relating to aluminum, copper and zinc. Any payment at maturity or upon early
redemption is subject to Deutsche Bank AG's ability to pay its obligations as
they become due. Investors can buy and sell the DB Base Metals ETNs at market
price on the NYSE Arca exchange or receive a cash payment at the scheduled
maturity or early repurchase based on the month-over-month performance of the
index less investor fees. Investors may redeem the DB Base Metals ETNs in
blocks of no less than 5,000 securities and integral multiples of 5,000
securities thereafter, subject to the procedures described in the pricing
supplement, which may include a fee of up to $0.03 per security. Leveraged
inverse ETNs are not suitable for all investors.
Regulatory Documents
PROSPECTUS
Risks Benefits
Non-principal protected Leverage short notes
Leveraged losses Relatively low cost
Subject to an investor fee Intraday access
Limitations on repurchase Listed
Concentrated exposure to notional Transparent
positions in base metal commodity futures
contracts
Credit risk of the issuer
26
|
 |
Acceleration risk
Lack of liquidity
BOM Profile
Inception Date: 06/16/2008 ETN Price at Initial Listing: $25.00 Maturity Date:
6/1/2038 Listing Exchange: NYSE Arca Yearly Investor Fee: 0.75% Ticker: BOM
CUSIP: 25154K858
Indicative Value
Intraday Indicative Security Value: $16.86 1 Last End of Day Value: $16.66 Last
End of Day Date: 02/24/2015
1 The intraday indicative security value is meant to approximate the economic
value of the ETNs at any given time during a trading day. The intraday
indicative security value is a calculated value (calculated in accordance with
the formula set forth in the pricing supplement) and is not the same as the
trading price of the ETNs and is not a price at which you can buy or sell the
ETNs in the secondary market. The actual trading price of the ETNs in the
secondary market may vary significantly from their intraday indicative security
value.
About the Note's Index
Last Updated 02/24/2015
Index Ticker: DBBMIX
Component Contract Weight
Date %
Aluminium 21-Oct-2015 33.29
-------------- ----------- --------
Copper - Grade 15-Apr-2015 32.55
A
BOM Financial Details
As of 24-Feb-2015 02:44 PM
Last Trade: Bid: Ask:
$16.35 $0.00 $0.00
Open: High: Low:
$0.00 $16.35 $16.35
Pricing Snapshot
Current Pricing 52 Week
27
|
 |
Component Contract Weight
Date %
Zinc 17-Feb-2016 34.15
BOM News and Updates
2 | 25 | 2015
Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs)
3 | 7 | 2014
Press Release: Deutsche Asset and Wealth Management reduces redemption size of
twelve ETNs
4 | 15 | 2013
Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes
3 | 14 | 2013
Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange
Traded Notes
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
Risks of investing in the ETNs include limited portfolio diversification,
uncertain principal repayment, trade price fluctuations, illiquidity and
leveraged losses. The leveraged ETNs are leveraged investments. As such, it is
likely to be more volatile than an unleveraged investment. There is also a
greater risk of loss of principal associated with a leveraged investment than
with an unleveraged investment.
The ETNs may be sold throughout the day on NYSE Arca through any brokerage
account. Ordinary brokerage commissions apply. Sales in the secondary market
may result in losses. There are restrictions on the minimum number of ETNs that
you may redeem directly with Deutsche Bank AG, London Branch, as specified in
the applicable pricing supplement.
The ETNs provide concentrated exposure to notional positions in aluminum,
copper and zinc futures contracts. The market value of the ETNs may be
influenced by many unpredictable factors, including, among other things,
volatile base metal prices, changes in supply and demand relationships, changes
in interest rates, and monetary and other governmental actions. Because the
ETNs provide concentrated exposure to notional positions in futures contracts
of a single commodity sector, they are speculative and generally will exhibit
higher volatility than commodity products linked to more than one commodity
sector.
An Investment in the ETNs involves risks, including the loss of some or all of
the principal amount. For a description of the main risks, see "Risk Factors"
in the applicable pricing supplement and the accompanying prospectus supplement
and prospectus. An investor should consider the ETNs' investment objective,
risks, charges and expenses carefully before investing.
Depending on market demand, Deutsche Bank AG may create and issue additional
ETNs that may be offered and sold from time to time in amounts to be determined
solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to
sell additional ETNs at any time, and if Deutsche Bank AG does sell additional
ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at
any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the
price and liquidity of such ETNs in the secondary market could be materially
and adversely affected.
Not FDIC Insured -- No Bank Guarantee -- May Lose Value
Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a
registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or
registered trademarks are the property of their respective owners. Your use of
this site signifies that you accept our Terms and Conditions of Use.
28
|
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOS DB Base Metals Short ETN
ETN
BOM: DB Base Metals Double Short ETN
BOM
Prospectus ETN
Total Notes Outstanding: $2,449,285 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Total Returns (%)
as of Jan 2015[] Quarter-end Month-end
Cumulative Average Annualized
1 Month 3 Months 6 Months YTD 1 Year 3 Year 5 Year Since Inception
Underlying Index
DBIQ -5.22 -11.57 -13.69 -5.22 -4.42 -9.14 -4.50 -5.79 Optimum Yield Industrial
Metals Index
ETN repurchase value performance figures reflect repurchase value, which is the
amount per note you will be entitled to receive upon any early repurchase.
Investors are required to offer a minimum number of notes (found in pricing
supplement) to be eligible to effect a repurchase. Repurchase value takes into
account the current principal amount and the monthly returns from the relevant
indexes, less the investor fee. As a result, the ETN performance would have
been lower than the relevant index. See the prospectus for more complete
information. Investors holding less than the minimum number of shares required
to effect a repurchase would have to sell their shares at prevailing market
prices, which may be at a significant discount to the repurchase value. Indexes
are unmanaged, and you cannot invest directly in an index. PAST PERFORMANCE
DOES NOT GUARANTEE FUTURE RESULTS. Performance data current to the most recent
month end can be obtained by calling 1-855-329-3837 or by visiting
www.deutsche-etfs.com.
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
29
|
 |
Each ETN offers investors exposure to the month-over-month performance of its respective index measured from the first calendar day to the last calendar day of each month. The inverse or leveraged ETNs may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term inverse and/or leveraged investment results by means of securities that reset their exposure monthly, resulting in the compounding of monthly returns. Investing in the ETNs is not equivalent to a direct investment in the index or index components. The principal amount is also subject to the monthly application of the investor fee, which can adversely affect returns. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. If at any time the repurchase value of the ETNs is zero, the relevant ETNs will be accelerated and you will lose your entire investment in such ETNs. As described in the relevant pricing supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to the repurchase value. Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 30 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOS DB Base Metals Short ETN
ETN
BOM: DB Base Metals Double Short ETN
BOM
Prospectus ETN
Total Notes Outstanding: $2,449,285 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
News
2 | 25 | 2015
Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs)
3 | 7 | 2014
Press Release: Deutsche Asset and Wealth Management reduces redemption size of
twelve ETNs
4 | 15 | 2013
Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes
3 | 14 | 2013
Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange
Traded Notes
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
31
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 32 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative,
call (877) 369-4617.
Advisors:
To speak with an ETF sales representative,
call (844) 851-4255.
Related Products
DB Base Metals
BDD Double Long ETN
ETN
DB Base Metals
BDG Long ETN
ETN
DB Base Metals
BOS Short ETN
ETN
BOM: DB Base Metals Double Short ETN
BOM
Prospectus ETN
Total Notes Outstanding: $2,449,285 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Related Materials
BOM Prospectus PDF
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
33
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 34 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOS DB Base Metals Short ETN
ETN
BOM BOM: DB Base Metals Double Short ETN
Prospectus
ETN
Total Notes Outstanding: $2,449,285 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
FAQ's
----------- ----------- ----------- -------------------- ---------------------------------------
What is an Exchange Traded Note (ETN)?
An ETN is a senior, unsecured, unsubordinated debt security issued by a financial institution
that can be bought and sold on an exchange. Unlike traditional debt securities, ETNs do not
guarantee investors any return of principal. Instead, the returns of ETNs are based on the
performance, whether negative or positive, of an underlying index that provides exposure to
one or more underlying asset classes, including commodity, currency, equity and fixed
income assets. In addition, investors in ETNs have no ownership interest in the underlying
assets and are subject to the credit risk of the issuer.
What risks are associated with ETNs?
Unlike traditional debt securities, the principal of ETNs is not protected. Returns of ETNs will
be positively affected by any favorable performance and negatively affected by any adverse
performance of the underlying index. For leveraged ETNs, any gain or loss related to the
underlying index will be amplified.
ETN investors are also exposed to issuer credit risk. As a result, the issuer's actual and
perceived creditworthiness will affect the market value of the ETNs, and in the event the
issuer were to default on its payment obligations, investors may not receive any amount owed
to them under the terms of the ETNs. Investors in ETNs have no recourse to any underlying
assets.
Do the ETNs replicate a direct investment in the
underlying index?
Investing in the ETNs is not equivalent to a direct investment in the underlying index or index
components. Investors have no recourse to any underlying assets and the principal amount
35
|
 |
(the amount you invested) is also subject to the applicable investor fees, which can adversely affect returns. What are Leveraged ETNs? Leveraged ETNs are designed to amplify returns related to an underlying index, whether positive or negative. Leveraged ETNs typically attempt to provide double or triple returns of an underlying index over a predetermined period of time, usually daily or monthly. The current principal amount is reset each day or month to ensure that a consistent degree of leverage is applied to any performance of the underlying index. If the current principal amount is reduced by a negative daily or monthly performance, any further negative daily or monthly performance will lead to a smaller loss when applied to that reduced current principal amount. However, if the current principal amount increases, the loss for a certain level of negative daily or monthly performance will increase correspondingly. Resetting the current principal amount also means that any gain from a positive daily or monthly performance will be contingent upon the current principal amount. The leverage feature and the daily or monthly reset of the principal amount will cause the performance of the ETNs to differ significantly from the point-to-point performance of the underlying index. Leveraged ETNs may not be suitable for all investors. What makes Deutsche Bank's Leveraged ETNs different from other Leveraged ETPs? Deutsche Bank offers a number of leveraged ETNs, the returns of which are reset on a monthly basis, as compared to other leveraged ETNs in the market that reset on a daily basis. ETNs reset on a daily basis are typically designed to achieve their stated objectives on a daily basis. Due to the effects of the leverage feature and the daily reset of the principal amount, the performance of leveraged ETNs over longer periods of time can differ significantly from the point-to-point performance of the underlying index. Deutsche Bank ETNs offer investors exposure to the month-over-month performance of its respective underlying index measured from the first calendar day to the last calendar day of each month. While Deutsche Bank's monthly reset ETNs lessen the deviation to the underlying index to certain degree, they may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date, and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term leveraged investment results by means of securities that reset their exposure monthly. What are Inverse ETNs? Inverse ETNs are products that provide investors with short exposure to an underlying index, meaning that their returns will increase with depreciations and decrease with appreciations of the underlying index. Inverse ETNs may also provide investors leveraged short exposure to an underlying index. Inverse ETNs may not be suitable for all investors. 36 |
 |
ETNs are traded on an exchange. Investors can buy or sell ETNs through their broker on a U.S. securities exchange during market hours. Who is the issuer for the DB ETNs? The DB ETNs are issued by Deutsche Bank AG, London Branch and are subject to the credit risk of Deutsche Bank AG. For more information about Deutsche Bank AG, you can review Deutsche Bank's annual report on Form 20-F and Interim Reports on Form 6-K at www.sec.gov. Do the DB ETNs pay interest and dividends? These ETNs do not pay any interest or dividends. What is the Deutsche Bank Optimum Yield[] strategy? A number of commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM (OY) strategy, which is an innovative methodology designed to address negative roll yields in contango markets. In general, as a futures contract approaches its expiration date, its price moves towards the spot price. In a contango market, assuming the spot price does not change, this results in the futures contract price decreasing and a negative implied roll yield. The opposite is true in a backwardation market. By evaluating each of the available contracts and roll to the contract that has the best implied, annualized roll yield, the Optimum YieldTM strategy seeks to maximize the gains from rolling in backwardation markets and minimize the losses from rolling in contango markets. Click here to learn more about Optimum YieldTM. Why is the Deutsche Bank Optimum Yield[] strategy valuable to ETN investors? When markets are in contango, returns of traditional commodity ETNs will be adversely affected by the negative roll yields. The long and double long commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM (OY) strategy, which is designed to maximize the positive roll yields in backwardation markets and minimize the negative roll yields in contango markets. Click here to learn more about Optimum YieldTM. How are ETNs taxed? In determining our tax reporting responsibilities, if any, with respect to the ETNs, we expect to treat them for U.S. federal income tax purposes as prepaid financial contracts that are not debt. If this treatment is respected, subject to any special considerations described in the relevant pricing supplement, (i) you should not recognize taxable income or loss prior to the taxable disposition of your Deutsche X-trackers ETNs (including at maturity or upon early 37 |
 |
redemption), (ii) in the case of equity-linked or commodity-linked ETNs, your
gain or loss on the ETNs should be capital gain or loss, and (iii) 1099s, not
K-1s, will be the tax reporting forms received. However, significant aspects of
the tax treatment of the ETNs are uncertain. If the Internal Revenue Service
("IRS") were successful in asserting an alternative treatment for the ETNs, the
tax consequences of ownership and disposition of the ETNs could differ
materially and adversely from those described briefly above. In addition, in
2007 the U.S. Treasury Department and the IRS released a notice requesting
comments on the tax treatment of "prepaid forward contracts" and similar
instruments. Any resulting guidance could materially and adversely affect the
tax consequences of an investment in the ETNs, possibly with retroactive
effect.
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
Risks of investing in the ETNs include limited portfolio diversification,
uncertain principal repayment, trade price fluctuations, illiquidity and
leveraged losses. The leveraged ETNs are leveraged investments. As such, it is
likely to be more volatile than an unleveraged investment. There is also a
greater risk of loss of principal associated with a leveraged investment than
with an unleveraged investment.
The ETNs may be sold throughout the day on NYSE Arca through any brokerage
account. Ordinary brokerage commissions apply. Sales in the secondary market
may result in losses. There are restrictions on the minimum number of ETNs that
you may redeem directly with Deutsche Bank AG, London Branch, as specified in
the applicable pricing supplement.
The ETNs provide concentrated exposure to notional positions in aluminum,
copper and zinc futures contracts. The market value of the ETNs may be
influenced by many unpredictable factors, including, among other things,
volatile base metal prices, changes in supply and demand relationships, changes
in interest rates, and monetary and other governmental actions. Because the
ETNs provide concentrated exposure to notional positions in futures contracts
of a single commodity sector, they are speculative and generally will exhibit
higher volatility than commodity products linked to more than one commodity
sector.
An Investment in the ETNs involves risks, including the loss of some or all of
the principal amount. For a description of the main risks, see "Risk Factors"
in the applicable pricing supplement and the accompanying prospectus supplement
and prospectus. An investor should consider the ETNs' investment objective,
risks, charges and expenses carefully before investing.
Depending on market demand, Deutsche Bank AG may create and issue additional
ETNs that may be offered and sold from time to time in amounts to be determined
solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to
sell additional ETNs at any time, and if Deutsche Bank AG does sell additional
ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at
any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the
price and liquidity of such ETNs in the secondary market could be materially
and adversely affected.
Not FDIC Insured -- No Bank Guarantee -- May Lose Value
Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a
registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or
registered trademarks are the property of their respective owners. Your use of
this site signifies that you accept our Terms and Conditions of Use.
38
|
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS: DB Base Metals Short ETN
BOS
Prospectus ETN
Total Notes Outstanding: $1,686,426 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
DB Base Metals Short ETN (Symbol: BOS) is part of the "DB Base Metals ETNs"
collection. DB Base Metals ETNs provide investors a way to take a long, short
or leveraged view on the performance of base metals. All of the DB Base Metals
Exchange Traded Notes are based on a total return version of the Deutsche Bank
Liquid Commodity Index Optimum Yield Industrial Metals[], which is intended to
track the long or short performance of futures contracts relating to aluminum,
copper and zinc. Any payment at maturity or upon early redemption is subject to
Deutsche Bank AG's ability to pay its obligations as they become due. Investors
can buy and sell the DB Base Metals ETNs at market price on the NYSE Arca
exchange or receive a cash payment at the scheduled maturity or early
repurchase based on the month-over-month performance of the index less investor
fees. Investors may redeem the DB Base Metals ETNs in blocks of no less than
5,000 securities and integral multiples of 5,000 securities thereafter, subject
to the procedures described in the pricing supplement, which may include a fee
of up to $0.03 per security.
Regulatory Documents
PROSPECTUS
Risks Benefits
Non-principal protected Unleveraged short notes
Subject to an investor fee Relatively low cost
Limitations on repurchase Intraday access
Concentrated exposure to notional Listed
positions in base metal commodity futures
contracts Transparent
Credit risk of the issuer
Acceleration risk
39
|
 |
Lack of liquidity
BOS Profile
Inception Date: 06/16/2008 ETN Price at Initial Listing: $25.00 Maturity Date:
6/1/2038 Listing Exchange: NYSE Arca Yearly Investor Fee: 0.75% Ticker: BOS
CUSIP: 25154K833
Indicative Value
Intraday Indicative Security Value: $24.23 1 Last End of Day Value: $24.09 Last
End of Day Date: 02/24/2015
1 The intraday indicative security value is meant to approximate the economic
value of the ETNs at any given time during a trading day. The intraday
indicative security value is a calculated value (calculated in accordance with
the formula set forth in the pricing supplement) and is not the same as the
trading price of the ETNs and is not a price at which you can buy or sell the
ETNs in the secondary market. The actual trading price of the ETNs in the
secondary market may vary significantly from their intraday indicative security
value.
About the Note's Index
Last Updated 02/24/2015
Index Ticker: DBBMIX
Component Contract Weight
Date %
Aluminium 21-Oct-2015 33.29
-------------- ----------- --------
Copper - Grade 15-Apr-2015 32.55
A
-------------- ----------- --------
Zinc 17-Feb-2016 34.15
BOS Financial Details
As of 24-Feb-2015 12:09 PM
Last Trade: Bid: Ask: $23.81 $0.00 $0.00
Open: High: Low: $0.00 $23.81 $23.81
Pricing Snapshot
Current Pricing 52 Week
40
|
 |
BOS News and Updates 2 | 25 | 2015 Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs) 3 | 7 | 2014 Press Release: Deutsche Asset and Wealth Management reduces redemption size of twelve ETNs 4 | 15 | 2013 Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes 3 | 14 | 2013 Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange Traded Notes Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder Market Makers Downloads Individual Investor Info Risks for the DB Exchange Traded Notes Deutsche Bank AG, London Branch has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents filed by Deutsche Bank AG, London Branch for more complete information about the issuer and this offering. You may get these documents for free by visiting www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov. Alternatively, you may request a prospectus by calling 1-877-369-4617, or you may request a copy from any dealer participating in this offering. The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch, and the amount due on the ETNs is dependent on Deutsche Bank AG, London Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. Each ETN offers investors exposure to the month-over-month performance of its respective index measured from the first calendar day to the last calendar day of each month. The inverse or leveraged ETNs may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term inverse and/or leveraged investment results by means of securities that reset their exposure monthly, resulting in the compounding of monthly returns. Investing in the ETNs is not equivalent to a direct investment in the index or index components. The principal amount is also subject to the monthly application of the investor fee, which can adversely affect returns. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. If at any time the repurchase value of the ETNs is zero, the relevant ETNs will be accelerated and you will lose your entire investment in such ETNs. As described in the relevant pricing supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to the repurchase value. Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 41 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS: DB Base Metals Short ETN
BOS
Prospectus ETN
Total Notes Outstanding: $1,686,426 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Total Returns (%)
as of Jan 2015[] Quarter-end Month-end
Cumulative Average Annualized
1 Month 3 Months 6 Months YTD 1 Year 3 Year 5 Year Since Inception
Underlying Index
DBIQ -5.22 -11.57 -13.69 -5.22 -4.42 -9.14 -4.50 -5.79 Optimum Yield Industrial
Metals Index
ETN repurchase value performance figures reflect repurchase value, which is the
amount per note you will be entitled to receive upon any early repurchase.
Investors are required to offer a minimum number of notes (found in pricing
supplement) to be eligible to effect a repurchase. Repurchase value takes into
account the current principal amount and the monthly returns from the relevant
indexes, less the investor fee. As a result, the ETN performance would have
been lower than the relevant index. See the prospectus for more complete
information. Investors holding less than the minimum number of shares required
to effect a repurchase would have to sell their shares at prevailing market
prices, which may be at a significant discount to the repurchase value. Indexes
are unmanaged, and you cannot invest directly in an index. PAST PERFORMANCE
DOES NOT GUARANTEE FUTURE RESULTS. Performance data current to the most recent
month end can be obtained by calling 1-855-329-3837 or by visiting
www.deutsche-etfs.com.
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
42
|
 |
Each ETN offers investors exposure to the month-over-month performance of its respective index measured from the first calendar day to the last calendar day of each month. The inverse or leveraged ETNs may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date and should be used only by knowledgeable investors who understand the potential adverse consequences of seeking longer-term inverse and/or leveraged investment results by means of securities that reset their exposure monthly, resulting in the compounding of monthly returns. Investing in the ETNs is not equivalent to a direct investment in the index or index components. The principal amount is also subject to the monthly application of the investor fee, which can adversely affect returns. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. If at any time the repurchase value of the ETNs is zero, the relevant ETNs will be accelerated and you will lose your entire investment in such ETNs. As described in the relevant pricing supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to the repurchase value. Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 43 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS: DB Base Metals Short ETN
BOS
Prospectus ETN
Total Notes Outstanding: $1,686,426 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
News
2 | 25 | 2015
Press Release: Deutsche Bank renames 26 Exchange Traded Notes (ETNs)
3 | 7 | 2014
Press Release: Deutsche Asset and Wealth Management reduces redemption size of
twelve ETNs
4 | 15 | 2013
Deutsche Bank to Reopen Issuances of Twenty-Six Exchange Traded Notes
3 | 14 | 2013
Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange
Traded Notes
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
44
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 45 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS: DB Base Metals Short ETN
BOS
Prospectus ETN
Total Notes Outstanding: $1,686,426 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
Related Materials
BOS Prospectus PDF
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
46
|
 |
Risks of investing in the ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. The leveraged ETNs are leveraged investments. As such, it is likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The ETNs may be sold throughout the day on NYSE Arca through any brokerage account. Ordinary brokerage commissions apply. Sales in the secondary market may result in losses. There are restrictions on the minimum number of ETNs that you may redeem directly with Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. The ETNs provide concentrated exposure to notional positions in aluminum, copper and zinc futures contracts. The market value of the ETNs may be influenced by many unpredictable factors, including, among other things, volatile base metal prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. Because the ETNs provide concentrated exposure to notional positions in futures contracts of a single commodity sector, they are speculative and generally will exhibit higher volatility than commodity products linked to more than one commodity sector. An Investment in the ETNs involves risks, including the loss of some or all of the principal amount. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement and the accompanying prospectus supplement and prospectus. An investor should consider the ETNs' investment objective, risks, charges and expenses carefully before investing. Depending on market demand, Deutsche Bank AG may create and issue additional ETNs that may be offered and sold from time to time in amounts to be determined solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to sell additional ETNs at any time, and if Deutsche Bank AG does sell additional ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the price and liquidity of such ETNs in the secondary market could be materially and adversely affected. Not FDIC Insured -- No Bank Guarantee -- May Lose Value Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms and Conditions of Use. 47 |
 |
Products Insights Literature Resources About Us
Contact Us
Shareholders:
To speak with a shareholder representative, call (877) 369-4617.
Advisors:
To speak with an ETF sales representative, call (844) 851-4255.
Related Products
BDD DB Base Metals Double Long ETN
ETN
BDG DB Base Metals Long ETN
ETN
BOM DB Base Metals Double Short ETN
ETN
BOS: DB Base Metals Short ETN
BOS
Prospectus ETN
Total Notes Outstanding: $1,686,426 - As of: 02/24/2015
Overview Performance News Related Materials FAQ
FAQ's
What is an Exchange Traded Note (ETN)?
An ETN is a senior, unsecured, unsubordinated debt security issued by a
financial institution that can be bought and sold on an exchange. Unlike
traditional debt securities, ETNs do not guarantee investors any return of
principal. Instead, the returns of ETNs are based on the performance, whether
negative or positive, of an underlying index that provides exposure to one or
more underlying asset classes, including commodity, currency, equity and fixed
income assets. In addition, investors in ETNs have no ownership interest in the
underlying assets and are subject to the credit risk of the issuer.
What risks are associated with ETNs?
Unlike traditional debt securities, the principal of ETNs is not protected.
Returns of ETNs will be positively affected by any favorable performance and
negatively affected by any adverse performance of the underlying index. For
leveraged ETNs, any gain or loss related to the underlying index will be
amplified.
ETN investors are also exposed to issuer credit risk. As a result, the issuer's
actual and perceived creditworthiness will affect the market value of the ETNs,
and in the event the issuer were to default on its payment obligations,
investors may not receive any amount owed to them under the terms of the ETNs.
Investors in ETNs have no recourse to any underlying assets.
What are Inverse ETNs?
Inverse ETNs are products that provide investors with short exposure to an
underlying index, meaning that their returns will increase with depreciations
and decrease with appreciations of the underlying index. Inverse ETNs may also
provide investors leveraged short exposure to an underlying index. Inverse ETNs
may not be suitable for all investors.
48
|
 |
How do I buy and sell ETNs? ETNs are traded on an exchange. Investors can buy or sell ETNs through their broker on a U.S. securities exchange during market hours. Who is the issuer for the DB ETNs? The DB ETNs are issued by Deutsche Bank AG, London Branch and are subject to the credit risk of Deutsche Bank AG. For more information about Deutsche Bank AG, you can review Deutsche Bank's annual report on Form 20-F and Interim Reports on Form 6-K at www.sec.gov. Do the DB ETNs pay interest and dividends? These ETNs do not pay any interest or dividends. What is the Deutsche Bank Optimum Yield[] strategy? A number of commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM (OY) strategy, which is an innovative methodology designed to address negative roll yields in contango markets. In general, as a futures contract approaches its expiration date, its price moves towards the spot price. In a contango market, assuming the spot price does not change, this results in the futures contract price decreasing and a negative implied roll yield. The opposite is true in a backwardation market. By evaluating each of the available contracts and roll to the contract that has the best implied, annualized roll yield, the Optimum YieldTM strategy seeks to maximize the gains from rolling in backwardation markets and minimize the losses from rolling in contango markets. Click here to learn more about Optimum YieldTM. Why is the Deutsche Bank Optimum Yield[] strategy valuable to ETN investors? When markets are in contango, returns of traditional commodity ETNs will be adversely affected by the negative roll yields. The long and double long commodity ETNs employs Deutsche Bank's proprietary Optimum YieldTM (OY) strategy, which is designed to maximize the positive roll yields in backwardation markets and minimize the negative roll yields in contango markets. Click here to learn more about Optimum YieldTM. How are ETNs taxed? 49 |
 |
In determining our tax reporting responsibilities, if any, with respect to the
ETNs, we expect to treat them for U.S. federal income tax purposes as prepaid
financial contracts that are not debt. If this treatment is respected, subject
to any special considerations described in the relevant pricing supplement, (i)
you should not recognize taxable income or loss prior to the taxable
disposition of your Deutsche X-trackers ETNs (including at maturity or upon
early redemption), (ii) in the case of equity-linked or commodity-linked ETNs,
your gain or loss on the ETNs should be capital gain or loss, and (iii) 1099s,
not K-1s, will be the tax reporting forms received. However, significant
aspects of the tax treatment of the ETNs are uncertain. If the Internal Revenue
Service ("IRS") were successful in asserting an alternative treatment for the
ETNs, the tax consequences of ownership and disposition of the ETNs could
differ materially and adversely from those described briefly above. In
addition, in 2007 the U.S. Treasury Department and the IRS released a notice
requesting comments on the tax treatment of "prepaid forward contracts" and
similar instruments. Any resulting guidance could materially and adversely
affect the tax consequences of an investment in the ETNs, possibly with
retroactive effect.
Quick Links: Terms and Conditions News and Updates Proxy Voting Product Finder
Market Makers Downloads Individual Investor Info
Risks for the DB Exchange Traded Notes
Deutsche Bank AG, London Branch has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus and other documents filed by
Deutsche Bank AG, London Branch for more complete information about the issuer
and this offering. You may get these documents for free by visiting
www.deutsche-etfs.com/prospectuses or EDGAR on the SEC website at www.sec.gov.
Alternatively, you may request a prospectus by calling 1-877-369-4617, or you
may request a copy from any dealer participating in this offering.
The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.
Each ETN offers investors exposure to the month-over-month performance of its
respective index measured from the first calendar day to the last calendar day
of each month. The inverse or leveraged ETNs may not be suitable for investors
seeking an investment with a term greater than the time remaining to the next
monthly reset date and should be used only by knowledgeable investors who
understand the potential adverse consequences of seeking longer-term inverse
and/or leveraged investment results by means of securities that reset their
exposure monthly, resulting in the compounding of monthly returns.
Investing in the ETNs is not equivalent to a direct investment in the index or
index components. The principal amount is also subject to the monthly
application of the investor fee, which can adversely affect returns. There is
no guarantee that you will receive at maturity, or upon an earlier repurchase,
your initial investment back or any return on that investment. Significant
adverse monthly performances for your securities may not be offset by any
beneficial monthly performances. If at any time the repurchase value of the
ETNs is zero, the relevant ETNs will be accelerated and you will lose your
entire investment in such ETNs. As described in the relevant pricing
supplement, Deutsche Bank may redeem the ETNs for an amount in cash equal to
the repurchase value.
Risks of investing in the ETNs include limited portfolio diversification,
uncertain principal repayment, trade price fluctuations, illiquidity and
leveraged losses. The leveraged ETNs are leveraged investments. As such, it is
likely to be more volatile than an unleveraged investment. There is also a
greater risk of loss of principal associated with a leveraged investment than
with an unleveraged investment.
The ETNs may be sold throughout the day on NYSE Arca through any brokerage
account. Ordinary brokerage commissions apply. Sales in the secondary market
may result in losses. There are restrictions on the minimum number of ETNs that
you may redeem directly with Deutsche Bank AG, London Branch, as specified in
the applicable pricing supplement.
The ETNs provide concentrated exposure to notional positions in aluminum,
copper and zinc futures contracts. The market value of the ETNs may be
influenced by many unpredictable factors, including, among other things,
volatile base metal prices, changes in supply and demand relationships, changes
in interest rates, and monetary and other governmental actions. Because the
ETNs provide concentrated exposure to notional positions in futures contracts
of a single commodity sector, they are speculative and generally will exhibit
higher volatility than commodity products linked to more than one commodity
sector.
An Investment in the ETNs involves risks, including the loss of some or all of
the principal amount. For a description of the main risks, see "Risk Factors"
in the applicable pricing supplement and the accompanying prospectus supplement
and prospectus. An investor should consider the ETNs' investment objective,
risks, charges and expenses carefully before investing.
Depending on market demand, Deutsche Bank AG may create and issue additional
ETNs that may be offered and sold from time to time in amounts to be determined
solely by Deutsche Bank AG. However, Deutsche Bank AG is under no obligation to
sell additional ETNs at any time, and if Deutsche Bank AG does sell additional
ETNs, Deutsche Bank AG may limit such sales and stop selling additional ETNs at
any time. If Deutsche Bank AG suspends the issuance of additional ETNs, the
price and liquidity of such ETNs in the secondary market could be materially
and adversely affected.
Not FDIC Insured -- No Bank Guarantee -- May Lose Value
Copyright [C] 2015 Deutsche Bank AG. All rights reserved. db-X[R] is a
registered trademark of Deutsche Bank AG. All other trademarks, servicemarks or
registered trademarks are the property of their respective owners. Your use of
this site signifies that you accept our Terms and Conditions of Use.
50
|