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Deutsche Bank Announces Intention to Suspend Further Issuances of 21 Exchange Traded Notes

Deutsche Bank announced today that, effective January 1, 2016, it will suspend any further issuances of the following 21 Exchange Traded Notes (the ETNs):
     
ETN Name   NYSE Arca Ticker
DB Base Metals Double Long ETN   BDD
DB Base Metals Double Short ETN   BOM
DB Base Metals Long ETN   BDG
DB Base Metals Short ETN   BOS
DB Crude Oil Double Short ETN   DTO
DB Crude Oil Long ETN   OLO
DB Crude Oil Short ETN   SZO
DB Gold Double Long ETN   DGP
DB Gold Double Short ETN   DZZ
DB Gold Short ETN   DGZ
DB German Bund Futures ETN   BUNL
DB 3x German Bund Futures ETN   BUNT
DB Japanese Govt Bond Futures ETN   JGBL
DB 3x Japanese Govt Bond Futures ETN   JGBT
DB Inverse Japanese Govt Bond Futures ETN   JGBS
DB 3x Inverse Japanese Govt Bond Futures ETN   JGBD
DB 3x Long 25+ Year Treasury Bond ETN   LBND
DB 3x Short 25+ Year Treasury Bond ETN   SBND
ELEMENTSSM—“Dogs of the Dow” Linked to the Dow Jones High Yield Select 10 Total Return IndexSM   DOD
ELEMENTSSM Linked to the Morningstar® Wide Moat FocusSM Total Return Index   WMW
FI Enhanced Global High Yield ETN Linked to the MSCI World High Dividend Yield USD Gross Total Return Index   FIEG

 

   
 

The ETNs are issued by Deutsche Bank AG, London Branch. The ETN holders’ option to require Deutsche Bank AG to repurchase the ETNs will not be affected by this suspension. However, Deutsche Bank AG will not be making additional issuances of these ETNs to the market effective January 1, 2016.

As disclosed in the related pricing supplement for each ETN, the market value of the ETNs may be influenced by, among other things, the levels of supply and demand for the ETNs. It is possible that the suspension, as described above, may materially influence the market value and the liquidity of the ETNs. The limitations on issuance and sale implemented may cause an imbalance of supply and demand in the secondary market for the ETNs, which may cause the ETNs to trade at a premium or discount in relation to their intraday indicative value.

Investors considering any purchase of the ETNs should be aware of the fact that the trading price of the ETNs on the exchange could be significantly different from their intraday indicative value, which is meant to approximate the intrinsic economic value of the ETNs. Paying a premium purchase price over the intraday indicative value of the ETNs could lead to significant losses.