Obligation Deutsch Bank London 0% ( US25152RVU49 ) en USD

Deutsch Bank London

100 % ⇌

Allemagne

US25152RVU49 ( en USD )

0%

09/10/2015 - Obligation échue

Prospectus brochure de l'obligation Deutsche Bank (London Branch) US25152RVU49 en USD 0%, échue

1 000 USD

420 000 000 USD

25152RVU4

BBB+ ( Qualité moyenne inférieure )

A3 ( Qualité moyenne supérieure )

Deutsche Bank (London Branch) est une succursale de la Deutsche Bank AG, opérant à Londres et fournissant une gamme complète de services bancaires d'investissement et de gestion de fortune à une clientèle internationale.

L'Obligation émise par Deutsch Bank London ( Allemagne ) , en USD, avec le code ISIN US25152RVU49, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 09/10/2015

L'Obligation émise par Deutsch Bank London ( Allemagne ) , en USD, avec le code ISIN US25152RVU49, a été notée A3 ( Qualité moyenne supérieure ) par l'agence de notation Moody's.

L'Obligation émise par Deutsch Bank London ( Allemagne ) , en USD, avec le code ISIN US25152RVU49, a été notée BBB+ ( Qualité moyenne inférieure ) par l'agence de notation Standard & Poor's ( S&P ).

http://www.sec.gov/Archives/edgar/data/1159508/000095010314002496/dp45433_424b2-ps19...
424B2 1 dp45433_424b2-ps1993.htm FORM 424B2
Pricing supplement No. 1993
Registration Statement No. 333-184193
To prospectus supplement dated September 28, 2012 and
Dated April 2, 2014; Rule 424(b)(2)
prospectus dated September 28, 2012
Deutsche Bank AG, London Branch
$420,000,000
18 Month Floating Rate Notes due October 9, 2015

General

·
The 18 Month Floating Rate Notes due October 9, 2015 (the "notes") pay interest quarterly in arrears at a variable rate equal to 3-month USD LIBOR plus
0.35%. The notes are designed for investors who seek quarterly interest payments with the return of principal at maturity. Al payments on the notes,
including interest payments and the repayment of principal at maturity, are subject to the credit of the Issuer.

·
Senior unsecured obligations of Deutsche Bank AG, London Branch due October 9, 2015.

·
Minimum denominations of $1,000 (the "Principal Amount") and integral multiples thereof.

·
The notes priced on April 2, 2014 (the "Trade Date") and are expected to settle on April 9, 2014 (the "Settlement Date"). Delivery of the notes in
book-entry form only wil be made through The Depository Trust Company ("DTC").
Key Terms
Issuer:
Deutsche Bank AG, London Branch
Issue Price:
100.00%
Interest Rate:
Interest wil be paid on a quarterly basis in arrears at the Interest Rate set forth below on each Interest Payment Date based on
an actual/360 day count convention. The Interest Rate for each Reset Period commencing on an Interest Reset Date wil be
equal to the Base Rate (to be determined by the calculation agent on the relevant Interest Determination Date) plus the Spread.
The Initial Interest Rate wil be equal to the Base Rate (to be determined by the calculation agent on the second London
Banking Day prior to the Settlement Date) plus the Spread.
Base Rate:
3-month USD LIBOR
Spread:
Plus 0.35%
Reset Period:
Each period from (and including) an Interest Reset Date to (but excluding) the fol owing Interest Reset Date, with the final Reset
Period ending on (but excluding) the Maturity Date.
Interest Reset Date:
Each Interest Payment Date
Interest Determination Date:
The second London Banking Day preceding an Interest Reset Date. A "London Banking Day" is any day on which dealings in
deposits in U.S. dol ars are transacted in the London interbank market.
Interest Payment Dates:
January 9, April 9, July 9 and October 9 of each year, commencing on July 9, 2014 and ending on the Maturity Date. If any
scheduled Interest Payment Date (other than the Maturity Date) is not a Business Day (as defined below), the Interest Payment
Date wil be postponed to the fol owing Business Day, except that, if that Business Day would fal in the next calendar month, the
Interest Payment Date wil be the immediately preceding Business Day.
Trade Date:
April 2, 2014
Settlement Date:
April 9, 2014
Maturity Date:
October 9, 2015
Listing:
The notes wil not be listed on any securities exchange.
CUSIP / ISIN:
25152RVU4 / US25152RVU49
Investing in the notes involves a number of risks. See "Selected Risk Considerations" beginning on page PS-2 in this pricing supplement.
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Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the
adequacy of this pricing supplement or the accompanying prospectus supplement and prospectus. Any representation to the contrary is a criminal offense.
Price to
Discounts and
Proceeds

Public
Commissions(1)
to Us
Per Note
100.00%
0.06%
99.94%
Total
$420,000,000.00
$252,000.00
$419,748,000.00
(1)
For more detailed information about discounts and commissions, please see "Supplemental Underwriting Information (Conflicts of Interest)" in this pricing
supplement.

Deutsche Bank Securities Inc., an agent for this offering, is our affiliate. For more information, see "Supplemental Underwriting Information (Conflicts of Interest)" in
this pricing supplement.
The notes are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
CALCULATION OF REGISTRATION FEE
Maximum Aggregate
Amount of
Title of Each Class of Securities Offered
Offering Price
Registration Fee
Notes
$420,000,000.00
$54,096.00

Deutsche Bank Securities

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SUMMARY

·
You should read this pricing supplement together with the prospectus supplement dated September 28, 2012 relating to our Series A global notes of which
these notes are a part and the prospectus dated September 28, 2012. You may access these documents on the website of the Securities and Exchange
Commission (the "SEC") at.www.sec.gov as fol ows (or if such address has changed, by reviewing our filings for the relevant date on the SEC website):

·
Prospectus supplement dated September 28, 2012:

http://www.sec.gov/Archives/edgar/data/1159508/000119312512409437/d414995d424b21.pdf

·
Prospectus dated September 28, 2012:

http://www.sec.gov/Archives/edgar/data/1159508/000119312512409372/d413728d424b21.pdf

·
Our Central Index Key, or CIK, on the SEC website is 0001159508. As used in this pricing supplement, "we," "us" or "our" refers to Deutsche Bank AG,
including, as the context requires, acting through one of its branches.

·
This pricing supplement, together with the documents listed above, contains the terms of the notes and supersedes al other prior or contemporaneous oral
statements as wel as any other written materials including preliminary or indicative pricing terms, correspondence, trade ideas, structures for implementation,
sample structures, brochures or other educational materials of ours. You should careful y consider, among other things, the matters set forth in "Risk Factors"
in the accompanying prospectus supplement and prospectus. We urge you to consult your investment, legal, tax, accounting and other advisers before deciding
to invest in the notes.

·
In making your investment decision, you should rely only on the information contained or incorporated by reference in this pricing supplement relevant to your
investment and the accompanying prospectus supplement and prospectus with respect to the notes offered by this pricing supplement and with respect to
Deutsche Bank AG. We have not authorized anyone to give you any additional or different information. The information in this pricing supplement and the
accompanying prospectus supplement and prospectus may only be accurate as of the dates of each of these documents, respectively.

·
You should be aware that the regulations of the Financial Industry Regulatory Authority, Inc. ("FINRA") and the laws of certain jurisdictions (including regulations
and laws that require brokers to ensure that investments are suitable for their customers) may limit the availability of the notes. This pricing supplement and the
accompanying prospectus supplement and prospectus do not constitute an offer to sel or a solicitation of an offer to buy the notes under any circumstances in
which such offer or solicitation is unlawful.

·
We are offering to sell, and are seeking offers to buy, the notes only in jurisdictions where such offers and sales are permitted. Neither the delivery
of this pricing supplement nor the accompanying prospectus supplement or prospectus nor any sale made hereunder implies that there has been
no change in our affairs or that the information in this pricing supplement and accompanying prospectus supplement and prospectus is correct as
of any date after the date hereof.

·
You must (i) comply with all applicable laws and regulations in force in any jurisdiction in connection with the possession or distribution of this
pricing supplement and the accompanying prospectus supplement and prospectus and the purchase, offer or sale of the notes and (ii) obtain any
consent, approval or permission required to be obtained by you for the purchase, offer or sale by you of the notes under the laws and regulations
applicable to you in force in any jurisdiction to which you are subject or in which you make such purchases, offers or sales; neither we nor the
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agents shall have any responsibility therefor.

PS-1
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Selected Risk Considerations

An investment in the notes involves risks. This section describes the most significant risks relating to the notes. For a complete list of risk factors, please see the
accompanying prospectus supplement and prospectus.

·
THE NOTES ARE SUBJECT TO OUR CREDITWORTHINESS -- The notes are senior unsecured obligations of Deutsche Bank AG, and are not, either
directly or indirectly, an obligation of any third party. Any interest payments to be made on the notes and the repayment of principal at maturity depend on
the ability of Deutsche Bank AG to satisfy its obligations as they come due. An actual or anticipated downgrade in Deutsche Bank AG's credit rating or
increase in the credit spreads charged by the market for taking our credit risk wil likely have an adverse effect on the value of the notes. As a result, the
actual and perceived creditworthiness of Deutsche Bank AG wil affect the value of the notes, and in the event Deutsche Bank AG were to default on its
payment obligations, you might not receive interest and principal payments owed to you under the terms of the notes and you could lose your entire initial
investment.

·
THE NOTES ARE NOT DESIGNED TO BE SHORT-TERM TRADING INSTRUMENTS -- The price at which you wil be able to sel your notes to us or
our affiliates prior to maturity, if at al , may be at a substantial discount from the Principal Amount of the notes.

·
THE NOTES WILL NOT BE LISTED AND THERE WILL LIKELY BE LIMITED LIQUIDITY -- The notes wil not be listed on any securities exchange.
There may be little or no secondary market for the notes. Even if there is a secondary market, it may not provide enough liquidity to al ow you to trade or
sel the notes when you wish to do so or at a price advantageous to you. Deutsche Bank AG and its affiliates intend to act as market makers for the notes
but are not required to do so. Because we do not expect that other market makers wil participate significantly in the secondary market for the notes, the
price at which you may be able to trade your notes is likely to depend on the price, if any, at which Deutsche Bank AG or its affiliates are willing to buy the
notes. If, at any time, Deutsche Bank AG or its affiliates do not act as market makers, it is likely that there would be little or no secondary market for the
notes.

·
MANY ECONOMIC AND MARKET FACTORS WILL IMPACT THE VALUE OF THE NOTES -- The value of the notes wil be affected by a number of
factors that may either offset or magnify each other, including:

·
the time remaining to maturity of the notes;

·
trends relating to inflation;

·
interest rates and yields in the market general y;

·
the actual or anticipated rate of LIBOR;

·
the volatility of LIBOR;

·
geopolitical conditions and economic, financial, political, regulatory or judicial events that affect markets general y;

·
supply and demand for the notes; and

·
our creditworthiness, including actual or anticipated downgrades in our credit ratings.
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·
HOLDINGS OF THE NOTES BY OUR AFFILIATES AND FUTURE SALES MAY AFFECT THE PRICE OF THE NOTES -- Certain of our affiliates may
purchase some of the notes for investment. As a result, upon completion of an offering, our affiliates may own up to approximately 10.00% of the notes
offered in that offering. Circumstances may occur in which our interests or those of our affiliates may be in conflict with your interests. In addition, if a
substantial portion of the notes held by our affiliates were to be offered for sale in the secondary market, if any, fol owing such an offering, the market price
of the notes may fal . The negative effect of such sales on the prices of the notes could be more pronounced if secondary trading in the notes is limited or
illiquid.

PS-2
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DESCRIPTION OF THE NOTES

The following description of the terms of the notes supplements the description of the general terms of the debt securities set forth under the headings
"Description of Notes" in the accompanying prospectus supplement and "Description of Debt Securities" in the accompanying prospectus. Capitalized terms
used but not defined in this pricing supplement have the meanings assigned to them in the accompanying prospectus supplement and prospectus. The term
"note" refers to each $1,000 Principal Amount of our 18 Month Floating Rate Notes due October 9, 2015.

General

The notes are senior unsecured obligations of Deutsche Bank AG, London Branch that pay interest at a variable rate equal to 3-month USD LIBOR plus
0.35%. The interest wil be paid on a quarterly basis in arrears on each Interest Payment Date, including the Maturity Date, based on an actual/360 day count
convention. The notes are our Series A global notes referred to in the accompanying prospectus supplement and prospectus. The notes wil be issued by Deutsche
Bank AG, London Branch under an indenture among us, Law Debenture Trust Company of New York, as trustee, and Deutsche Bank Trust Company Americas, as
issuing agent, paying agent and registrar. From time to time, we may create and issue additional notes with the same terms, so that the additional notes wil be
considered as part of the same issuance as the earlier notes.

The notes are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or by any other governmental agency.

The notes are our senior unsecured obligations and wil rank pari passu with all of our other senior unsecured obligations, except for obligations required to be
preferred by law.

The notes wil be issued in denominations of $1,000 and integral multiples of $1,000 in excess thereof. The principal amount (the "Principal Amount") is
$1,000 and the Issue Price of each note is $1,000. The notes wil be issued in registered form and represented by one or more permanent global notes registered in
the name of The Depository Trust Company ("DTC") or its nominee, as described under "Description of Notes -- Form, Legal Ownership and Denomination of
Notes" in the accompanying prospectus supplement and "Forms of Securities -- Legal Ownership -- Global Securities" in the accompanying prospectus.

Payments on the Notes

The "Maturity Date" wil be October 9, 2015, unless that day is not a Business Day, in which case the Maturity Date wil be the first fol owing Business Day.
On the Maturity Date, you wil receive a cash payment, for each $1,000 Principal Amount of notes, of $1,000 plus any accrued but unpaid interest. If the scheduled
Maturity Date is not a Business Day, the principal and any accrued but unpaid interest wil be paid on the first fol owing day that is a Business Day with the ful force
and effect as if made on the scheduled Maturity Date, and no interest on such postponed payment wil accrue during the period from and after the scheduled
Maturity Date.

The notes wil bear interest from the Settlement Date at a variable Interest Rate, payable on a quarterly basis in arrears on January 9, April 9, July 9 and
October 9 of each year (each, an "Interest Payment Date"), commencing on July 9, 2014 and ending on the Maturity Date, based on an actual/360 day count
convention. If any scheduled Interest Payment Date (other than the Maturity Date) is not a Business Day, the Interest Payment Date wil be postponed to the
fol owing Business Day, except that, if that Business Day would fal in the next calendar month, the Interest Payment Date wil be the immediately preceding
Business Day.

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The "Interest Rate" for each Reset Period commencing on an Interest Reset Date wil be equal to the Base Rate (to be determined by the calculation agent
on the relevant Interest Determination Date) plus the Spread. The Initial Interest Rate wil be equal to the Base Rate (to be determined by the calculation agent on
the second London Banking Day prior to the Settlement Date) plus the Spread.

The "Base Rate" is 3-month USD LIBOR. The "Spread" is plus 0.35%.

Each "Reset Period" wil be from (and including) an Interest Reset Date to (but excluding) the fol owing Interest Reset Date, with the final Reset Period ending
on (but excluding) the Maturity Date.

The "Interest Reset Dates" wil be the Interest Payment Dates.

PS-3
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Each "Interest Determination Date" wil be the second London Banking Day preceding the relevant Interest Reset Date. A "London Banking Day" is any
day on which dealings in deposits in U.S. dol ars are transacted in the London interbank market.

We wil irrevocably deposit with DTC no later than the opening of business on the applicable Interest Payment Date and the Maturity Date funds sufficient to
make payments of the amount payable with respect to the notes on such date. We wil give DTC irrevocable instructions and authority to pay such amount to the
holders of the notes entitled thereto.

A "Business Day" is any day that is a London Banking Day other than a day that (i) is a Saturday or Sunday, (i ) is a day on which banking institutions
general y in the City of New York or London, England are authorized or obligated by law, regulation or executive order to close or (iii) is a day on which transactions
in dol ars are not conducted in the City of New York or London, England.

Subject to the foregoing and to applicable law (including, without limitation, United States federal laws), we or our affiliates may, at any time and from time to
time, purchase outstanding notes by tender, in open market transactions or by private agreement.

Calculation Agent

Deutsche Bank AG, London Branch wil act as the calculation agent. As the calculation agent, Deutsche Bank AG, London Branch wil determine, among other
things, the amount of interest payable in respect of your notes on each Interest Payment Date. All determinations made by the calculation agent wil be at the sole
discretion of the calculation agent and wil , in the absence of manifest error, be conclusive for all purposes and binding on you, the trustee and us. We may appoint a
different calculation agent from time to time after the date of this pricing supplement without your consent and without notifying you.

The calculation agent wil provide written notice to the trustee at its New York office, on which notice the trustee may conclusively rely, of the amount to be
paid on each Interest Payment Date and at maturity on or prior to 11:00 a.m. on the Business Day preceding each Interest Payment Date and the Maturity Date.

Al calculations with respect to the amount of interest payable on the notes wil be rounded to the nearest one hundred-thousandth, with five one-mil ionths
rounded upward (e.g., 0.876545 would be rounded to 0.87655); all U.S. dol ar amounts related to determination of the payment per $1,000 Principal Amount of
notes at maturity wil be rounded to the nearest ten-thousandth, with five one hundred-thousandths rounded upward (e.g., 0.76545 would be rounded up to 0.7655);
and al U.S. dol ar amounts paid on the aggregate Principal Amount of notes per holder wil be rounded to the nearest cent, with one-half cent rounded upward.

Events of Default

Under the heading "Description of Debt Securities -- Events of Default" in the accompanying prospectus is a description of events of default relating to debt
securities including the notes.

Payment Upon an Event of Default

If an event of default occurs, and the maturity of your notes is accelerated, we wil pay a default amount for each $1,000 Principal Amount of notes equal to
$1,000 plus any accrued but unpaid interest to (but excluding) the date of acceleration.

If the maturity of the notes is accelerated because of an event of default as described above, we wil , or wil cause the calculation agent to, provide written
notice to the trustee at its New York office, on which notice the trustee may conclusively rely, and to DTC of the cash amount due with respect to the notes as
promptly as possible and in no event later than two Business Days after the date of acceleration.
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Modification

Under the heading "Description of Debt Securities -- Modification of an Indenture" in the accompanying prospectus is a description of when the consent of
each affected holder of debt securities is required to modify the indenture.

Defeasance

The provisions described in the accompanying prospectus under the heading "Description of Debt Securities -- Discharge and Defeasance" are not applicable
to the notes.

PS-4
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