Termsheet Mini-Future Warrants on Indices Final Terms and Conditions

Transcription

1 Hotline: (044) REUTERS: DBCHWTS Internet: Termsheet Mini-Future Warrants on Indices Final Terms and Conditions ISIN Valor Symbol Underlying Sponsor/ Reference Exchange Type Multiplier Initial fixings for: Underlying Price Financing Level Stop Loss Level Initial Financing Spread max. Financing Spread Initial Stop Loss Buffer max. Stop Loss Buffer Issue Size Issue Price DE000DB4SX XSPXC DE000DB4SX XSPXD DE000DB4SX XSPXW DE000DB4SY XSPXX Long , , , Long , Short , , , Short , , , CHF 0.73 CHF 1.25 CHF 0.79 CHF 1.31 Issuer: Calculation Agent: Principal Agent: Deutsche Bank AG The issuer shall act as the Calculation Agent Deutsche Bank AG

2 Issue Date: 24 September 2009 First Trading Date: 29 September 2009 First Settlement Date: 01 October 2009 Reference Currency: USD Exercise rights of the investor: Exercise Period: Issuer s call right: Valuation Date: Maturity: Settlement Type: Settlement Currency: Settlement Date: Settlement Amount: Stop Loss Event: Observation Period: Stop Loss Reference Level: During the Exercise Period, the securityholder is entitled to exercise his Mini Futures on the first Business Day following the 7th calendar day of October of each calendar year. The Calculation Agent must have received the corresponding notice by Zurich time. The period starting 01. October 2009 until Maturity. The Issuer is entitled to early redeem non-exercised Mini Futures in accordance with the terms and conditions of the Offering Circular by giving notice to the securityholders, which notice shall specify the due date for redemption. The Valuation Date is the date: (a) on which the Mini Futures are exercised by the securityholder, or (b) on which the Mini Futures are redeemed by the Issuer, or (c) a Stop Loss Event has occurred. Open-end Cash CHF Means in respect of a Security and its Valuation Date, the third Business Day following the relevant Valuation Date. For each Mini Future, the following amount is paid back to the investor in the Settlement Currency: 1)If, in the determination of the Calculation Agent, a Stop Loss event has occured: a)in case of Long Mini Futures: max (0; (Stop Loss Reference Level - Current Financing Level) x Multiplier) x FX b)in case of Short Mini Futures: max (0; (Current Financing Level - Stop Loss Reference Level) x Multiplier) x FX 2)otherwise: a)in case of Long Mini Futures: max (0; (Final Reference Level - Current Financing Level) x Multiplier) x FX b)in case of Short Mini Futures: max (0; (Current Financing Level - Final Reference Level) x Multiplier) x FX whereby: FX is the current Interbank conversion rate between the Reference Currency and the Settlement Currency around 13:00 Zurich time on the Valuation Date. The Cash Settlement Amount will be rounded to the nearest two decimal places in the Settlement Currency, being rounded downwards. A Stop Loss Event occurs when the value of the Underlying a) in case of Long Mini Future is at or below the Current Stop Loss Level; b) in the case of Short Mini Future is at or above the Current Stop Loss level; within the Observation Period and the usual hours, in which the level of the underlying is determined and published by the Sponsor, whereby the Mini Futures are automatically exercised and become invalid. Each day between the Issue Date (inclusive) and the Valuation Date (inclusive), on which the Underlying is determined and published by the Sponsor. A price determined by the Calculation Agent, which is derived from a value for the relevant Underlying within three hours during the Underlying s trading hours after a Stop Loss Event has occurred. If a Stop Loss Event occurs less than one hour before the end of a trading day, the period is then carried over to the next trading day.

3 Final Reference Level: Reference Level: Trading Day: Current Financing Level (Strike): If the holder of the Mini Futures exercises or the Issuer redeems, then the Final Reference Level is equal to the Reference Level on the Valuation Date. In the event of a Stop Loss Event, however, the Final Reference Level is equal to the Stop Loss Reference Level. The Reference Level is the closing price of the Underlying, which is determined and published by the Sponsor. A trading day for Mini Futures is a day which is a trading day for the relevant Sponsor. At the end of an Adjustment Day, the Calculation Agent adjusts the Current Financing Level using the following formulas: a) In case of Long Mini Future: B) In case of Short Mini Future: Current Financing Spread: Adjustment Date: Dividends: Current Stop Loss Level: Adjustment Date for Stop Loss Level: Current Stop Loss Buffer: Interest Rate: Minimum Trade Size: Listing: Market Making: Whereby FLnew : Financing Level following adjustment = Current Financing Level. FLold : Financing Level before adjustment. r: Interest Rate. FS: Current Financing Spread. N: Number of calendar days between the current Adjustment Date (exclusive) and the next Adjustment Date (inclusive). d: Taxation factor for a possible dividend payment. The taxation factor is between zero and one, and is established by the Calculation Agent at its own discretion. div: Dividends (or other payments). The result of the calculation will be rounded to the nearest two decimal places (0.01). The Calculation Agent establishes, at its own discretion, the Current Financing Spread between zero and the Maximum Financing Spread on each Adjustment Date for the Stop Loss Level. Each trading day for Mini Futures An amount in USD determined by the Calculation Agent in its reasonable discretion on the basis of dividends or similar payments to the holders of the Underlying whereby the exdate of such payment on the Reference Exchange is set between the current Adjustment Day (excluding) and the next following Adjustment Day (including). A value determined by the Calculation Agent on each Adjustment Date for the Stop Loss Level after the Current Financing Level has been adjusted in accordance with the following formula: a) In case of Long Mini Future: Current Financing Level * (100% + Current Stop Loss Buffer) b) In case of Short Mini Future: Current Financing Level * (100% - Current Stop Loss Buffer) The result of the calculation will be rounded to the nearest unit (1.00). The First Adjustment Date of each month and each ex-dividend day of the Underlying. If the Calculation Agent deems it necessary, an adjustment may be made on each trading day for Mini Futures. A buffer between zero and the Max Stop Loss Buffer determined by the Calculation Agent on each Adjustment Date for the Stop Loss Level. The prevailing rate for deposits in the Reference Currency with a designated maturity of spot next as determined by the calculation Agent. Based on the publication by Reuters Monitor Services ("Reuters") in Reuters-, for CHF Reuters page "CHF1MFSR=", for EUR Reuters page "EONIA=", for USD Reuters page "USD1MFSR=" and for JPY Reuters page "JPY1MFSR=." 1 Security or a multiple Application will be made for listing on the SIX Swiss Exchange. Under normal market conditions, it is foreseen that Deutsche Bank AG, will quote on SIX Swiss Exchange bid/offer prices.

4 Settlement: SIX SegaInterSettle AG Sales Restrictions: United States and US Persons, UK, Canada, Japan and the European Economic Area. SVSP Classification: Mini Futures (130) Tax: No Swiss federal withholding tax. No Swiss federal stamp duty at issuance (primary market) and on secondary market transactions. This Mini Future is qualified as derivative for individuals having their tax residence in Switzerland and holding the Mini Future as part of private property. No income tax upon buying, holding, selling, and redemption of the Mini Future. Therefore mentioned tax treatment is valid at the time of launch of the issue and is not exclusive. The relevant tax laws and the administrative practice are subject to change. Deutsche Bank AG expressly excludes all liability in respect of any tax implications. Further Information: Internet: Reuters: DBCHWTS Bloomberg: DBSU Hotline +41 (0) Governing Law and Place of German law Jurisdiction: Frankfurt am Main alternatively Zurich Standard & Poor s, "S&P ", S&P 500 ", "Standard & Poor s 500" and "500" are trademarks of McGraw-Hill Companies, Inc. and have been licensed for use by Deutsche Bank. The Product(s) is/are not sponsored, endorsed, sold or promoted by Standard & Poor s and Standard & Poor s makes no representation regarding the advisability of investing in the Product.

5 Product Risks: The Securities are derivative financial instruments. An investment in the Securities entails risks similar to a direct investment in the Underlying in the event of a Long Mini Future or risks similar to a short sale of the Underlying in the event of a Short Mini Future. An investment in the Securities could result in a total loss of the invested capital. Issuer Risk: The investors bear the credit risk of Deutsche Bank AG as Issuer of the Securities. The value of the Securities depends not only on the performance of the Underlying but also on the solvency of the Issuer, which may vary over the lifetime of the Securities. The Securities are unsubordinated, unsecured contractual obligations of the Issuer. They do not benefit from any preference in rank. The insolvency of the Issuer may lead to a partial or total loss of the invested capital. In connection with the offer and sale of the Securities, the distributor may acquire the Securities from the Issuer at a discount to the Issue Price or at the Issue Price. If the distributor acquires the Securities at the Issue Price, the Issuer may pay to the distributor a distribution fee.such fees received by the distributor may be in addition to the brokerage commissions/fees normally applied by the distributor. The investor acknowledges and agrees that such fees are retained by the distributor. Further information is available from the distributor upon investor s written request.if applicable, the distributor may receive a portion of the management fee on a recurring basis (trailer fees) for efforts undertaken by the distributor for placement/distribution of the Securities and other services rendered. The investor acknowledges and agrees that such fees are retained by the distributor. Further information is available from the distributor upon investor s written request.in receiving payments by third parties, the distributors interests may be adverse to those of the holders of this investment product and such payments could therefore adversely affect the investors return on the investment product. This document contains a short summary description of the most relevant terms and conditions of the above-described Securities (the"securities"). The complete terms and conditions are included in the Offering Circular. The facts contained herein are merely for information purposes. This document, and the information contained therein, does not constitute an issue prospectus according to the articles 652a and 1156 of the Swiss Code of Obligation ("CO").Only the terms and conditions included in the Offering Circular, which can be obtained free of charge at Deutsche Bank AG, Zurich Branch, Postfach 3604, 8021 Zurich, are binding. The Securities are not collective investment schemes pursuant to the Swiss Collective Investment Schemes Act ("CISA") and are, therefore,not subject to authorisation by the Swiss Federal Banking Commission. This document, and the information contained therein, does not constitute the provision of investment advice; its sole purpose is the description of the Securities. Investing in these Securities entails risks and a decision to invest must in all cases be taken only based on the Offering Circular. Please consider all risks described in the Offering Circular carefully prior to investing in the Securities and consult your professional independent financial, legal, accounting, and/or tax adviser with respect to an investment in the Securities. For further information, please contact your personal client advisor. All opinions contained herein are based on the current view of Deutsche Bank AG, and may be amended without prior notice. Deutsche Bank AG does not make any representation, recommendation or warranty, regarding the accuracy, adequacy, reasonableness or completeness of the information contained herein, even though all information contained herein originates from reliable sources. All rates and prices are subject to changes and are published for information purpose only and not as indicator for tradable rates and prices. Past performance is not indicative of future results. The distribution of these Securities is prohibited in some jurisdictions. This document and the information contained herein may only be distributed and published in jurisdictions in which such distribution and publication is permitted. In particular these Securities may not be offered or sold in the United States, the UK, Canada, Japan, the European Economic Area or to US persons. Frankfurt, 24 September 2009 MiFID: Further risk disclosures pursuant to MiFID can be obtained on