Obligation Deutsch Bank AG 0% ( DE000DB7EDY4 ) en USD

Société émettrice Deutsch Bank AG
Prix sur le marché 100 %  ▲ 
Pays  Allemagne
Code ISIN  DE000DB7EDY4 ( en USD )
Coupon 0%
Echéance 04/04/2018 - Obligation échue



Prospectus brochure de l'obligation DEUTSCHE BANK AG DE000DB7EDY4 en USD 0%, échue


Montant Minimal /
Montant de l'émission /
Description détaillée Deutsche Bank AG est une banque mondiale allemande offrant une large gamme de services financiers, notamment la banque de financement et d'investissement, la gestion de patrimoine et la banque privée.

Cet article examine les caractéristiques et l'historique d'une obligation spécifique émise par Deutsche Bank AG, l'un des principaux groupes bancaires et de services financiers au monde, dont le siège est en Allemagne et qui opère à l'échelle mondiale. Identifiée par le code ISIN DE000DB7EDY4, cette obligation, émise depuis l'Allemagne, était libellée en dollars américains (USD). Notablement, il s'agissait d'une obligation à coupon zéro, ce qui signifie qu'elle ne portait aucun taux d'intérêt périodique (0%), son rendement étant potentiellement réalisé par une décote à l'émission et son remboursement à valeur nominale. Arrivée à sa maturité fixée au 4 avril 2018, cette obligation a été remboursée à 100% de son prix nominal sur le marché, confirmant son paiement intégral à cette date.







FINAL TERMS



Deutsche Bank AG London

Up to 12,500,000 aXess Warrants linked to the Shares of GALFAR
ENGINEERING&CONTRACT with Issue Price: USD 4.0253
Up to 125,000,000 aXess Warrants linked to the Shares of FIRST BANK OF
NIGERIA PLC with Issue Price: USD 0.4031
Up to 125,000,000 aXess Warrants linked to the Shares of INTERCONTINENTAL
BANK PLC with Issue Price: USD 0.3789
Up to 125,000,000 aXess Warrants linked to the Shares of UNITED BANK FOR
AFRICA PLC with Issue Price: USD 0.4111
Up to 150,000,000 aXess Warrants linked to the Shares of GUARANTY TRUST
BANK with Issue Price: USD 0.3173
Up to 200,000,000 aXess Warrants linked to the Shares of OCEANIC BANK
INTERNATIONAL with Issue Price: USD 0.2392
Up to 300,000,000 aXess Warrants linked to the DIAMOND BANK PLC with
Issue Price: USD 0.1667
Up to 125,000,000 aXess Warrants linked to the ZENITH BANK LTD with Issue
Price: USD 0.4244
Up to 125,000,000 aXess Warrants linked to the Shares of DANGOTE SUGAR
REFINERY PLC with Issue Price: USD 0.3946
Up to 125,000,000 aXess Warrants linked to the Shares of UNION BANK
NIGERIA PLC with Issue Price: USD 0.3688
Up to 200,000,000 aXess Warrants linked to the Shares of AFRIBANK NIGERIA
PLC with Issue Price: USD 0.2220
Up to 300,000,000 aXess Warrants linked to the Shares of IBTC CHARTERED
BANK PLC with Issue Price: USD 0.1775
Up to 20,000,000 aXess Warrants linked to the Shares of ECOBANK
TRANSNATIONAL INC with Issue Price: USD 2.4262
Up to 250,000,000 aXess Warrants linked to the Shares of ACCESS BANK
NIGERIA PLC with Issue Price: USD 0.1973


Up to 300,000,000 aXess Warrants linked to the FIRST CITY MONUMENT BANK
PLC with Issue Price: USD 0.1612
Up to 500,000,000 aXess Warrants linked to the Shares of FIDELITY
BANK/NIGERIA with Issue Price: USD 0.0942
Issued under its
aXess Programme
The issuer (the "Issuer") of the securities described in these Final Terms is the London branch of Deutsche
Bank AG ("Deutsche Bank AG London") which is incorporated under the laws of Germany. Deutsche Bank
AG London is registered as a foreign company in England and Wales.
Under its X-markets aXess Programme (the "Programme") the Issuer is authorised to and may issue
securities relating to shares. The Issuer has determined to issue the series of aXess Warrants described
above (each a "Series" and the securities comprising a Series the "Securities") relating to the Shares
specified above, in each case upon the product terms and conditions set out in the "Product Conditions"
section of this document (the "Product Conditions") and the general terms and conditions set out in the
"General Conditions" section of this document (the "General Conditions", which together with the Product
Conditions shall be referred to as the "Conditions"). This Programme shall be used for Securities for which
the Issuer has elected Luxembourg as its home Member State as defined in Directive 2003/71/EC Chapter 1,
Article 2(1)(m). For the purposes of the Conditions, the Securities of a Series shall form a separate series of
Securities and the Conditions shall apply mutatis mutandis separately and independently to the Securities of
each Series. References to Securities, Securityholders and related expressions shall be construed
accordingly. References to the term "Underlying" in relation to a Series shal be construed as references to
the relevant Shares specified above.
The Securities will represent unsubordinated, unsecured contractual obligations of the Issuer which will rank
pari passu in all respects with each other and with all other unsubordinated, unsecured obligations of the
Issuer. The Securities are not insured by the U.S. Federal Deposit Insurance Corporation.
The Issuer has a right of substitution and a right to change the office through which it is acting, subject as
provided in General Condition 8.
Application has been made to list the Securities on the Official List of the Luxembourg Stock Exchange and to
trade them on the Euro MTF Market of the Luxembourg Stock Exchange, which is not a regulated market for
the purposes of Directive 2003/71/EC.
The Securities will be represented by a global security (a "Global Security") which the Issuer will deposit with
a depository on behalf of the Clearing Agent(s) (as defined in the Product Conditions) on or before the date of
issue of the Securities. Definitive Securities will not be issued. The Securities are transferable in accordance
with applicable law and any rules and procedures for the time being of any Clearing Agent through whose
books any of the Securities are transferred.
The Securities are transferable in accordance with applicable law and any rules and procedures for the time
being of any Clearing Agent through whose books any of the Securities are transferred.
The Securities may be sold by the Issuer at such times and at such prices as the Issuer may select provided
that where the Securities are listed on any stock exchange any sale shall be subject to applicable regulations
of any such stock exchange. There is no obligation upon the Issuer to sell all of the Securities. The Securities
may be offered or sold from time to time in one or more transactions, in the over-the-counter market or
otherwise at prevailing market prices or in negotiated transactions, in each case at the discretion of the Issuer.
Any offers of Securities by the Issuer in the United States will be made through Deutsche Bank Securities Inc.
(the "US Selling Agent" and, collectively with any other selling agents for the Securities, the "Selling Agents").
Prospective purchasers of the Securities should ensure that they understand fully the nature of the
Securities, as well as the extent of their exposure to risks associated with an investment in the
Securities and should consider the suitability of an investment in the Securities in light of their own
particular financial, fiscal and other circumstances. Prospective purchasers of the Securities should
refer to the "Risk Factors" section of this document. The Securities will represent unsubordinated,
unsecured contractual obligations of the Issuer which will rank pari passu in all respects with each
other.
The Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended
(the "Securities Act"). The Securities may not be offered or sold except to persons reasonably believed by the
Selling Agent to be "qualified institutional buyers" as defined in Rule 144A under the Securities Act or to non-
U.S. persons located outside the United States in reliance on Regulation S under the Securities Act. For a
description of certain restrictions on the sale and transfer of the Securities, please refer to the General Sel ing
and Transfer Restrictions section of this document.
The Base Prospectus is dated 5 September 2007 and provides information with respect to various
types of financial instruments which are capable of issue under the Programme. These Final Terms
constitute, in relation to the Securities only, a completed version of the Base Prospectus and are
dated 04 April 2008.
Deutsche Bank AG, London accepts responsibility for the information contained in this document. To
the best of the knowledge of the Issuer who has taken all reasonable care to ensure that such is the


case the information contained in this document is in accordance with the facts and does not omit
anything likely to affect the import of such information.



TABLE OF CONTENTS
SUMMARY.................................................................................................................................1
SUMMARY OF RISK FACTORS ...........................................................................................2
SUMMARY OF TERMS AND CONDITIONS OF THE OFFER........................................4
SUMMARY OF ISSUER DESCRIPTION...........................................................................13
RISK FACTORS .....................................................................................................................14
PRODUCT SPECIFIC RISK FACTORS.............................................................................15
MATERIAL INTERESTS/CONFLICTS OF INTEREST...................................................39
TERMS OF THE OFFER .......................................................................................................41
GENERAL INFORMATION ..................................................................................................42
GENERAL TAXATION INFORMATION ............................................................................43
GENERAL SELLING AND TRANSFER RESTRICTIONS ..............................................47
PUBLICATION OF BASE PROSPECTUS AND FINAL TERMS ...................................53
PRODUCT CONDITIONS ....................................................................................................54
GENERAL CONDITIONS.....................................................................................................78
INFORMATION RELATING TO THE UNDERLYING .....................................................83
PARTY LIST ..........................................................................................................................117
ANNEX A ...............................................................................................................................118

v


SUMMARY

The information set out below is a summary only and should be read in conjunction with the
rest of the document. This summary is intended to convey the essential characteristics and
risks associated with the Issuer, and in relation to the Securities and does not purport to be
complete. It is taken from, and is qualified in its entirety by, the remainder of this document.
Accordingly, this summary should be read as an introduction to the document, and any
decision to invest in the Securities should be based on consideration of the document as a
whole by an investor.

Prospective investors should be aware that where a claim relating to the information
contained in this document is brought before a court, the investor making the claim might,
under the national legislation of the respective EU member state, have to bear the costs of
translating the prospectus before the legal proceedings are initiated.

Civil liability attaches to the Issuer who has tabled the summary including the translation
thereof and applied for its notification, but only if the summary is misleading, inaccurate or
inconsistent when read together with the other parts of the document.

Defined terms used in this Summary have the meaning given to them in the Product
Conditions section of this Document.
This Summary contains:
Summary of Risk Factors
Summary of Terms and Conditions of the Offer
Summary of Issuer Description
1



SUMMARY OF RISK FACTORS

1.
Risk Factors relating to the Issuer's ability to meet its obligations under the
Securities
The value of the Securities is expected to be affected, in part, by investors' general appraisal
of the Issuer's creditworthiness. Any reduction in the creditworthiness of the Issuer could
result in a reduction, which in some cases may be considerable, in the value of the
Securities and could have an adverse impact on the Issuer's ability to meet its commitments
arising from the Securities. Further risks relating to the Issuer's ability to meet its obligations
under the Securities include a change in the rating of the Issuer and the general
creditworthiness of the Issuer and further information on these and other risks is set out in
"Risk Factors".

Ratings
Ratings assigned to the issuer by certain independent rating agencies are an indicator of the
issuer's ability to meet its obligations in a timely manner. The lower the assigned rating is on
the respective scale the higher the respective rating agency assesses the risk that
obligations will not be met at all or not be met in a timely manner. As of the publication date
of this summary, the following ratings were assigned to Deutsche Bank:

Rating Agency
Long-term
Short-term
Standard & Poor's (S&P)
AA
A-1+
Moody's Aa1
P-1
Fitch AA-
F1+

Rating agencies may change their ratings at short notice. A rating's change may affect the
price of securities outstanding.

2




2.
Summary of Risks relating to the Securities

An investment in the Securities involves risks. These risks may include, among others,
equity market, bond market, foreign exchange, interest rate, market volatility and economic,
political and regulatory risks and any combination of these and other risks. Some of these
are briefly discussed below. Prospective purchasers should be experienced with respect to
transactions in instruments such as the Securities and in the underlying shares of the
relevant Share Company to which the Securities of a Series are linked (the "Underlying"),
subject to adjustment in accordance with Product Condition 4. Prospective purchasers
should understand the risks associated with an investment in the Securities and should only
reach an investment decision after careful consideration, with their legal, tax, accounting and
other advisers, of (i) the suitability of an investment in the Securities in the light of their own
particular financial, tax and other circumstances, (ii) the information set out in this document
and (iii) the Underlying.
This document is not, and does not purport to be, investment advice.
The return (if any) an investor may receive is based on the performance of the Underlying
and movements in an exchange rate (being the rate of exchange between the currency of
the Underlying which is, in respect of a Series, the currency specified as the Reference
Currency in relation to such Series under "Securities" in Product Condition 1 and the
currency in which the Securities are settled which is USD). The Securities may decline in
value and investors should be prepared to sustain a total loss of their investment in the
Securities.

An investment in the Securities should only be made after assessing the direction, timing
and magnitude of potential future changes in the value of the Underlying and/or in the
applicable exchange rate, as the case may be, as the return of any such investment will be
dependent, inter alia, upon such changes. More than one risk factor may have simultaneous
effect with regard to the Securities such that the effect of a particular risk factor may not be
predictable. In addition, more than one risk factor may have a compounding effect which
may not be predictable. No assurance can be given as to the effect that any combination of
risk factors may have on the value of the Securities.

Any amounts payable in respect of the Securities are subject to the deduction of
certain taxes, duties and/or expenses.
3



SUMMARY OF TERMS AND CONDITIONS OF THE OFFER

The information contained in this section is intended to provide a general description of the Securities. It is
qualified by the more detailed explanation set forth in the sections "Product Conditions" and "General Conditions"
of this document, which constitute the legally binding conditions of the Securities as attached to the global
security. Prospective investors should read carefully and understand the Product Conditions and General
Conditions of this document before making any decision to invest in the Securities.
1. Principal
Terms:
(a) General

Issuer:
Deutsche Bank AG, London
Issue Date:
04 April 2008.
Securities of Each Series

The Securities of each Series specified by a separate ISIN/Common Code below shall form a separate series of
Securities and other provisions of this section shall apply mutatis mutandis separately and independently to the
Securities of a Series.


ISIN
Effective Date
End of Exercise
Integral
Issue Price
Minimum
Reference
Period
Exercise
per Security
Exercise Amount
Currency
Common Code
Amount
4




ISIN
Effective Date
End of Exercise
Integral
Issue Price
Minimum
Reference
Period
Exercise
per Security
Exercise Amount
Currency
Common Code
Amount
Underlying:
Shares of GALFAR ENGINEERING&CONTRACT
Reference Source:
Muscat Stock Exchange or any successor
Number of Securities::
Up to 12,500,000 aXess Warrants
DE000DB7EDN7/
04 April 2008
04 April 2018
1 Security
4.0253
1,000 Securities
OMR
035590846

Underlying:
Shares of FIRST BANK OF NIGERIA PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
up to 125,000,000 aXess Warrants
DE000DB7EDP2 /
04 April 2008
04 April 2018
1 Security
0.4031
1000 Securities
NGN
035590862

Underlying:
Shares of INTERCONTINENTAL BANK PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 125,000,000 aXess Warrants
DE000DB7EDQ0 /
04 April 2008
04 April 2018
1 Security
0.3789
1,000 Securities
NGN
035590889

Underlying:
Shares of UNITED BANK FOR AFRICA PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 125,000,000 aXess Warrants
DE000DB7EDR8 /
04 April 2008
04 April 2018
1 Security
0.4111
1,000 Securities
NGN
035590919

Underlying:
Shares of GUARANTY TRUST BANK
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 150,000,000 aXess Warrants
DE000DB7EDS6/
04 April 2008
04 April 2018
1 Security
0.3173
1,000 Securities
NGN
035590927

Underlying:
Shares of OCEANIC BANK INTERNATIONAL
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 200,000,000 aXess Warrants
DE000DB7EDT4 /
04 April 2008
04 April 2018
1 Security
0.2392
1,000 Securities
NGN
035590943

Underlying:
DIAMOND BANK PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 300,000,000 aXess Warrants
DE000DB7EDV0 /
04 April 2008
04 April 2018
1 Security
0.1667
1,000 Securities
NGN
035590951


Underlying:
ZENITH BANK LTD
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 125,000,000 aXess Warrants
DE000DB7EDW8 /
04 April 2008
04 April 2018
1 Security
0.4244
1,000 Securities
NGN
035590978

Underlying:
Shares of DANGOTE SUGAR REFINERY PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 125,000,000 aXess Warrants
DE000DB7EDX6 /
04 April 2008
04 April 2018
1 Security
0.3946
1,000 Securities
NGN
035590994

5




ISIN
Effective Date
End of Exercise
Integral
Issue Price
Minimum
Reference
Period
Exercise
per Security
Exercise Amount
Currency
Common Code
Amount
Underlying:
Shares of UNION BANK NIGERIA PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
up to 125,000,000 aXess Warrants
DE000DB7EDY4 /
04 April 2008
04 April 2018
1 Security
0.3688
1,000 Securities
NGN
035591028

Underlying:
Shares of AFRIBANK NIGERIA PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 200,000,000 aXess Warrants
DE000DB7EDZ1/
04 April 2008
04 April 2018
1 Security
0.2220
1,000 Securities
NGN
035591044

Underlying:
Shares of IBTC CHARTERED BANK PLC
Reference Source:

Nigerian Stock Exchange or any successor
Number of Securities::
up to 300,000,000 aXess Warrants
DE000DB7EEA2/
04 April 2008
04 April 2018
1 Security
0.1775
1,000 Securities
NGN
035591117


Underlying:
Shares of ECOBANK TRANSNATIONAL INC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 20,000,000 aXess Warrants
DE000DB7EEB0/
04 April 2008
04 April 2018
1 Security
2.4262
1,000 Securities
NGN
035591133


Underlying:
Shares of ACCESS BANK NIGERIA PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 250,000,000 aXess Warrants
DE000DB7EEC8 /
04 April 2008
04 April 2018
1 Security
0.1973
1,000 Securities
NGN
035591168


Underlying:
FIRST CITY MONUMENT BANK PLC
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 300,000,000 aXess Warrants
DE000DB7EED6 /
04 April 2008
04 April 2018
1 Security
0.1612
1,000 Securities
NGN
035591184

Underlying:
Shares of FIDELITY BANK/NIGERIA
Reference Source:
Nigerian Stock Exchange or any successor
Number of Securities::
Up to 500,000,000 aXess Warrants
DE000DB7EEE4 /
04 April 2008
04 April 2018
1 Security
0.0942
1,000 Securities
NGN
035591214



(b)
Exercise and Issuer Termination Right
Securityholder's Exercise
A Securityholder has a right upon delivery of a valid Exercise Notice to exercise
Right:
the Securities during the Exercise Period in accordance with Product Condition
3.
6