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Trigger Return Enhanced Securities Linked to the Lesser Performing of the iShares® MSCI EAFE ETF and the EURO STOXX 50® Index
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| Indicative Terms | |
| Issuer: | Deutsche Bank AG, London Branch |
| Issue Price: | 100% of the Face Amount |
| Maturity / Tenor: | Approximately 5 years |
| Underlyings: | The lesser performing of the the iShares® MSCI EAFE ETF (the “Fund”) and the EURO STOXX 50® Index (the “Index”) |
| Payment at Maturity: |
If the Final Level of the Laggard Underlying is greater than or equal to its Initial Level, you will receive a cash payment per $1,000 Face Amount of securities at maturity calculated as follows:
$1,000 + ($1,000 x Underlying Return of the Laggard Underlying x Upside Leverage Factor)
If the Final Level of the Laggard Underlying is less than its Initial Level but greater than or equal to its Trigger Level, you will receive a cash payment per $1,000 Face Amount of securities at maturity equal to the Face Amount.
If the Final Level of the Laggard Underlying is less than its Trigger Level, you will receive a cash payment per $1,000 Face Amount of securities at maturity calculated as follows:
$1,000 + ($1,000 x Underlying Return of the Laggard Underlying) |
| Underlying Return: |
For each Underlying, the performance of such Underlying from its Initial Level to its Final Level, calculated as follows:
Final Level – Initial Level Initial Level |
| Upside Leverage Factor: | At least 350.00% (to be determined on the Trade Date) |
| Initial Level: | For each Underlying, the Closing Level of such Underlying on the Trade Date |
| Final Level: | For each Underlying, the Closing Level of such Underlying on the Final Valuation Date |
| Closing Level: |
For the Fund, the closing price of one share of the Fund on the relevant date of calculation multiplied by the then-current Share Adjustment Factor, as determined by the calculation agent.
For the Index, the closing level of the Index on the relevant date of calculation. |
| Trigger Level: | For each Underlying, 50.00% of the Initial Level of such Underlying |
| CUSIP/ISIN: | 25155MKQ3 / US25155MKQ32 |
| Discounts and Commissions: | The securities will be sold with varying underwriting discounts and commissions in an amount not to exceed $13.75 per $1,000 Face Amount of securities. Deutsche Bank Securities Inc. (“DBSI”) may pay a fee of up to $7.50 per $1,000 Face Amount of securities to a referring broker dealer. If the referring broker dealer forgoes some of the fees it receives from DBSI with respect to sales of the securities into certain fee-based advisory accounts, the Issue Price of such securities will be less than 100% of the Face Amount. For more information, please see Supplemental Plan of Distribution (Conflicts of Interest)” in the accompanying preliminary pricing supplement 3070B. |
| Agent: | Deutsche Bank Securities Inc. |
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The Issuer’s estimated value of the securities on the Trade Date is approximately $953.10 to $973.10 per $1,000 Face Amount of securities, which is less than the Issue Price. Please see “Issuer’s Estimated Value of the Securities” on page PS–3 of the accompanying preliminary pricing supplement No. 3070B for additional information.
By acquiring the securities, you will be bound by and deemed irrevocably to consent to the imposition of any Resolution Measure (as defined in the accompanying preliminary pricing supplement No. 3070B) by the competent resolution authority, which may include the write down of all, or a portion, of any payment on the securities or the conversion of the securities into ordinary shares or other instruments of ownership. If any Resolution Measure becomes applicable to us, you may lose some or all of your investment in the securities. Please see “Resolution Measures and Deemed Agreement” in the accompanying preliminary pricing supplement No. 3070B for more information.
This fact sheet does not contain all of the material information an investor should consider before investing in the securities. This fact sheet is not for distribution in isolation and must be read together with the accompanying preliminary pricing supplement No. 3070B and the other documents referred to therein, which can be accessed on the Securities and Exchange Commission’s website at https://www.sec.gov/Archives/edgar/data/1159508/000095010318004279/
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| General |
| The notes are designed for investors who seek a return at maturity of at least 350.00% (to be determined on the Trade Date) of any increase in the price or level, as applicable, of the lesser performing of the iShares® MSCI EAFE ETF (the “Fund”) and the EURO STOXX 50® Index (the “Index,” and each of the Fund and the Index, an “Underlying”). If the Final Level of the lesser performing Underlying, which we refer to as the “Laggard Underlying,” is less than its Initial Level but greater than or equal to its Trigger Level, investors will receive a cash payment per $1,000 Face Amount of securities at maturity equal to the Face Amount. However, if the Final Level of the Laggard Underlying is less than its Trigger Level, for each $1,000 Face Amount of securities, investors will lose 1.00% of the Face Amount for every 1.00% by which the Final Level of the Laggard Underlying is less than its Initial Level. Any payment on the securities is subject to the credit of the Issuer. |
| Note Characteristics |
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n Opportunity to receive enhanced returns if the Final Level of the Laggard Underlying is greater than its Initial Level
n Receive the Face Amount if the Final Level of the Laggard Underlying is less than its Initial Level but greater than or equal to its Trigger Level
n Full downside exposure if the Final Level of the Laggard Underlying is less than its Trigger Level
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| Risk Considerations |
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n You will lose a significant portion or all of your investment in the securities if the Final Level of the Laggard Underlying is less than its Trigger Level
n The risk that you will lose a significant portion or all of your investment in the securities is greater than in similar securities that are linked to the performance of just one of the Underlyings
n Unlike ordinary debt securities, the securities do not pay any coupons or dividends and do not guarantee any return on your initial investment at maturity.
n Any payment on the securities is subject to the credit of the Issuer.
n The Issuer (or its affiliates) intends to offer to purchase the securities in the secondary market but is not required to do so. Accordingly, you should be able and willing to hold your securities to maturity.
n Additional risk factors can be found below. |
| Important Dates |
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Trade Date: ….……………………....……….April 30*, 2018
Settlement Date: .……………………………May 5*, 2018
Final Valuation Date: .……………………….April 28*, 2023
Maturity Date: ……….………………….……May 3*, 2023
* Please see the accompanying preliminary pricing supplement No. 3070B for additional information. |
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Fact Sheet for Preliminary Pricing Supplement No. 3070B Registration Statement No. 333-206013 Dated April 2, 2018
NOT FDIC / NCUA INSURED OR GUARANTEED MAY LOSE VALUE NO BANK GUARANTEE * NOT A DEPOSIT NOT INSURED OR GUARANTEED BY ANY FEDERAL GOVERNMENTAL AGENCY |
Calculating the Payment at Maturity
For every $1,000 Face Amount of securities, investors will receive at maturity an amount based on the Underlying Return, determined as follows. Any payment on the securities is subject to the credit of the Issuer.
Hypothetical Examples
The hypothetical returns set forth below reflect $1,000 of Face Amount of securities, a Trigger Level of 50.00% of the Initial Level and assume an Upside Leverage Factor of 350.00%. The actual Upside Leverage Factor, Initial Level and Trigger Level will be determined on the Trade Date.
| Hypothetical Underlying Return of the Laggard Underlying (%) | Hypothetical Payment at Maturity ($) | Hypothetical Return on the Securities (%) |  |
| 100.00% | $4,500.00 | 350.00% | |
| 75.00% | $3,625.00 | 262.50% | |
| 50.00% | $2,750.00 | 175.00% | |
| 40.00% | $2,400.00 | 140.00% | |
| 30.00% | $2,050.00 | 105.00% | |
| 20.00% | $1,700.00 | 70.00% | |
| 10.00% | $1,350.00 | 35.00% | |
| 5.00% | $1,175.00 | 17.50% | |
| 0.00% | $1,000.00 | 0.00% | |
| -5.00% | $1,000.00 | 0.00% | |
| -10.00% | $1.000.00 | 0.00% | |
| -20.00% | $1,000.00 | 0.00% | |
| -30.00% | $1,000.00 | 0.00% | |
| -40.00% | $1,000.00 | 0.00% | |
| -50.00% | $1,000.00 | 0.00% | |
| -51.00% | $490.00 | -51.00% | |
| -60.00% | $400.00 | -60.00% | |
| -70.00% | $300.00 | -70.00% | |
| -80.00% | $200.00 | -80.00% | |
| -90.00% | $100.00 | -90.00% | |
| -100.00% | $0.00 | -100.00% |
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| Selected Risk Factors |
An investment in the securities involves significant risks. Investing in the securities is not equivalent to investing directly in the stocks composing the Underlying. The below summary of selected risk factors does not describe all of the risks associated with an investment in the securities. You should read the “Selected Risk Considerations” section of the accompanying preliminary product supplement No. 3070B at the link referenced above, as well as the “Risk Factors” sections of the accompanying product supplement, prospectus supplement and prospectus, for a more complete description of risks relating to the securities.
| · | Your investment in the securities may result in a loss. |
| · | The securities do not pay any coupons. |
| · | Your Payment at Maturity will be determined by the Final Level of the Laggard Underlying. |
| · | The securities are subject to the credit of Deutsche Bank AG. |
| · | The securities may be written down, be converted into ordinary shares or other instruments of ownership or become subject to other resolution measures. You may lose some or all of your investment if any such measure becomes applicable to us. |
| · | The Issuer’s estimated value of the securities on the Trade Date will be less than the Issue Price of the securities. |
| · | Investing in the securities is not the same as investing in the Underlyings or the securities composing the Underlyings. |
| · | If the prices or levels, as applicable, of the Underlyings change, the value of your securities may not change in the same manner. |
| · | No dividend payments or voting rights. |
| · | Your investment is exposed to a decline in the price or level, as applicable, of each Underlying. |
| · | Because the securities are linked to the lesser performing of the two Underlyings, you are exposed to a greater risk of losing some or all of your investment than if the securities were linked to just one Underlying. |
| · | The Index reflects the price return of the stocks composing the Index, not their total return including all dividends and other distributions. |
| · | The sponsor of the Index may adjust the Index in ways that affect the level of the Index and has no obligation to consider your interests. |
| · | There are risks associated with investments linked to the values of equity securities issued by non-U.S. companies. |
| · | The performance of the Index will not be adjusted for changes in the euro relative to the U.S. dollar. |
| · | We are one of the companies that make up the Index. |
| · | The policies of the fund advisor and changes that affect the Fund or the tracked index could adversely affect the value of the securities. |
| · | The performance of the Fund, particularly during periods of market volatility, may not match the performance of the tracked index or its net asset value per share. |
| · | Anti-dilution protection is limited and the calculation agent may make adjustments in addition to, or that differ from, those set forth in the accompanying product supplement. |
| · | The securities are subject to currency exchange rate risk. |
| · | There is no affiliation between the Fund or the underlying stock issuers and us and we have not participated in the preparation of, or verified, any information about the Fund or the underlying stock issuers. |
| · | Past performance of the Underlyings is no guide to future performance. |
| · | Assuming no changes in market conditions and other relevant factors, the price you may receive for your securities in secondary market transactions would generally be lower than both the Issue Price and the Issuer’s estimated value of the securities on the Trade Date. |
| · | The securities will not be listed and there will likely be limited liquidity. |
| · | Many economic and market factors will affect the value of the securities. |
| · | Trading and other transactions by us or our affiliates in the equity and equity derivative markets may impair the value of the securities. |
| · | We or our affiliates may publish research, express opinions or provide recommendations that are inconsistent with investing in or holding the securities. Any such research, opinions or recommendations could adversely affect the prices or levels, as applicable, of the Underlyings and the value of the securities. |
| · | Potential conflicts of interest exist because we and our affiliates play a variety of roles in connection with the issuance of the securities. |
| · | The U.S. federal income tax consequences of an investment in the securities are uncertain. |
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