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30-MONTH CAPPED BUFFERED UNDERLYING SECURITIES (BUyS) PAGE 3
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SELECTED RISK FACTORS
YOUR INVESTMENT IN THE BUyS MAY RESULT IN A LOSS -- The BUyS do not guarantee
any return of your initial investment in excess of $100 per $1,000 face amount.
The return on the BUyS at maturity is linked to the performance of the Index
and will depend on whether, and the extent to which, the Index Return is
positive or negative.
THE RETURN ON YOUR BUyS IS LIMITED BY THE INDEX RETURN CAP -- The Index Return
cannot exceed the Index Return Cap of between 23.00% and 26.00% (to be
determined on the Trade Date) and your payment at maturity is limited to a
maximum payment of between $1,287.50 and $1,325.00 (to be determined on the
Trade Date) for each $1,000 face amount of the BUyS you hold, regardless of any
increase in the Index beyond the Index Return Cap.
CREDIT OF THE ISSUER --The BUyS are senior unsecured obligations of the Issuer,
Deutsche Bank AG, and are not, either directly or indirectly, an obligation of
any third party. Any payment to be made on the BUyS, including any Payment at
Maturity, depends on the ability of Deutsche Bank AG to satisfy its obligations
as they come due. As a result, the actual and perceived creditworthiness of
Deutsche Bank AG will affect the value of the BUyS and in the event Deutsche
Bank AG were to default on its obligations you may not receive the Payment at
Maturity owed to you under the terms of the BUyS.
TRADING AND OTHER TRANSACTIONS BY US OR OUR AFFILIATES IN THE EQUITY AND EQUITY
DERIVATIVE MARKETS MAY IMPAIR THE VALUE OF THE BUYS -- We or one or more of our
affiliates may hedge our exposure from the BUyS by entering into equity and
equity derivative transactions, such as over-the-counter options or
exchange-traded instruments. Such trading and hedging activities may affect the
Index and make it less likely that you will receive a return on your investment
in the BUyS. It is possible that we or our affiliates could receive substantial
returns from these hedging activities while the value of the BUyS declines. We
or our affiliates may also engage in trading in instruments linked to the Index
on a regular basis as part of our general broker-dealer and other businesses,
for proprietary accounts, for other accounts under management or to facilitate
transactions for customers, including block transactions. We or our affiliates
may also issue or underwrite other securities or financial or derivative
instruments with returns linked or related to the Index. By introducing
competing products into the marketplace in this manner, we or our affiliates
could adversely affect the value of the BUyS. Any of the foregoing activities
described in this paragraph may reflect trading strategies that differ from, or
are in direct opposition to, the trading strategy of investors in the BUyS.
CERTAIN BUILT-IN COSTS ARE LIKELY TO ADVERSELY AFFECT THE VALUE OF THE BUyS
PRIOR TO MATURITY -- Certain built-in costs, such as our estimated cost of
hedging, are likely to adversely affect the value of the BUyS prior to
maturity. You should be willing and able to hold your BUyS to maturity.
OUR RESEARCH, OPINIONS OR RECOMMENDATIONS COULD AFFECT THE LEVEL OF THE INDEX
OR THE MARKET VALUE OF THE BUyS -- We and our affiliates and agents may publish
research, express opinions or provide recommendations that are inconsistent
with investing in or holding the BUyS, which could affect the level of the
Index or the value of the BUyS.
LACK OF LIQUIDITY -- There may be little or no secondary market for the BUyS.
The BUyS will not be listed on any securities exchange.
NO PERIODIC COUPON OR DIVIDEND PAYMENTS OR VOTING RIGHTS -- You will not
receive periodic coupon payments on the BUyS or have voting rights or rights to
receive cash dividends or other distributions with respect to the component
stocks of the Index.
POTENTIAL CONFLICTS -- Because we and our affiliates play a variety of roles in
connection with the issuance of the BUyS, including acting as calculation agent
and hedging our obligations under the BUyS, the economic interests of the
calculation agent and other affiliates of ours are potentially adverse to your
interests as an investor in the BUyS.
MANY ECONOMIC AND MARKET FACTORS WILL AFFECT THE VALUE OF THE BUyS -- In
addition to the level of the Index on any day, the value of the BUyS will be
affected by a number of complex and interrelated economic and market factors
that may either offset or magnify each other.
THE U.S. TAX CONSEQUENCES OF AN INVESTMENT IN THE BUyS ARE UNCLEAR --
Significant aspects of the U.S. federal income tax treatment of the BUyS are
uncertain, and the Internal Revenue Service or a court might not agree with the
tax consequences described in the accompanying term sheet.
See "Selected Risk Considerations" in the accompanying term sheet and "Risk
Factors" in the accompanying product supplement for additional information.
Deutsche Bank AG has filed a registration statement (including a prospectus)
with the Securities and Exchange Commission, or SEC, for the offering to which
this fact sheet relates. Before you invest, you should read the prospectus in
that registration statement and the other documents including term sheet No.
1000J, the underlying supplement and the product supplement relating to this
offering that Deutsche Bank AG has filed with the SEC for more complete
information about Deutsche Bank AG and this offering. You may obtain these
documents without cost by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, Deutsche Bank AG, any agent or any dealer participating in this
offering will arrange to send you the prospectus, prospectus supplement,
product supplement, underlying supplement, term sheet No. 1000J and this fact
sheet if you so request by calling toll-free 1-800-311-4409.
You may revoke your offer to purchase the BUyS at any time prior to the time at
which we accept such offer by notifying the applicable agent. We reserve the
right to change the terms of, or reject any offer to purchase, the BUyS prior
to their issuance. We will notify you in the event of any changes to the terms
of the BUyS, and you will be asked to accept such changes in connection with
your purchase of any BUyS. You may also choose to reject such changes, in which
case we may reject your offer to purchase the BUyS.
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DWS Investments is part of Deutsche Bank's Asset Management division and,
within the US, represents the retail asset management activities of Deutsche
Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management
Americas Inc. and DWS Trust Company.
DWS Investments Distributors, Inc.
222 South Riverside Plaza, Chicago, IL 60606-5808
www.dws-investments.com
DWS Structured Products
345 Park Avenue, New York, NY 10154
dws-sp@db.com Tel (866) 637-9185
ww.dws-sp.com
[C] 2010 DWS Investments Distributors, Inc. All rights reserved.(07/10) R-18388-1
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