|
Free Writing Prospectus
Filed pursuant to Rule 433
Registration Statement No. 333-162195
Dated February 17, 2012
|
|
 |
Group Home db.com
Home Funds Downloads Press Releases and News About DB Commodity Services
Prospectus Tax Information Exchange Traded Notes DBX Strategic Advisors
Group Home > Notes > Commodities
Commodity Exchange Traded Notes
[GRAPHIC OMITTED]
Description
The PowerShares DB Commodity Double Long Exchange Traded Note (Symbol: DYY),
PowerShares DB Commodity Long Exchange Traded Note (Symbol: DPU), PowerShares DB
Commodity Short Exchange Traded Note (Symbol: DDP) and PowerShares DB Commodity
Double Short Exchange Traded Note (Symbol: DEE) (collectively, the "PowerShares
DB Commodity ETNs") are the first U.S. exchange-traded products that provide
investors with a cost- effective and convenient way to take a long, short or
leveraged view on the performance of a broad-based commodity index.
All of the PowerShares DB Commodity ETNs are based on a total return version of
the Deutsche Bank Liquid Commodity IndexTM. The Long and Double Long ETNs are
based on the Optimum YieldTM version of the Index. The Short and Double Short
ETNs are based on the standard version of the Index. Each index is intended to
track the long or short performance of the underlying futures contracts relating
to six commodities: wheat, corn, light sweet crude oil, heating oil, gold and
aluminum.
Investors can buy and sell the PowerShares DB Commodity ETNs at market price on
the NYSE Arca exchange or receive a cash payment at the scheduled maturity or
early repurchase based on the month-over-month performance of the index less
investor fees. Investors may redeem the PowerShares DB Commodity ETNs in blocks
of no less than 200,000 securities and integral multiples of 50,000 securities
thereafter, subject to the procedures described in the pricing supplement, which
may include a fee of up to $0.03 per security.
Fact Sheet
Prospectus
Index History(1)
[GRAPHIC OMITTED]
Long Index Weights
As Of: 16-Feb-2012
Commodity Contract Expiry Date Weight %
Wheat-Mineapolis Wht 14-Sep-2012 3.45
Light Crude 20-Jun-2012 37.32
Heating Oil 31-May-2012 20.64
Corn 14-Dec-2012 10.23
Gold 27-Dec-2012 9.42
Aluminium 19-Sep-2012 12.37
Wheat 13-Jul-2012 3.28
Wheat (Kansas Wheat) 13-Jul-2012 3.3
Short Index Weights
As Of: 16-Feb-2012
Commodity Contract Expiry Date Weight %
Aluminium 19-Dec-2012 12.41
Corn 14-Dec-2012 10.27
Gold 27-Dec-2012 9.6
Heating Oil 30-Mar-2012 20.59
Light Crude 20-Mar-2012 37.05
Wheat 14-Dec-2012 10.09
DB Commodity ETN and Index Data
(1)ETN performance figures are based on repurchase value. Repurchase value is
the current principal amount x applicable index
DEE Financial Details
Ticker: DEE
Last Update 17-Feb-2012
12:50 PM
Price 28.60
DEE Index Level* 436.80261
Indicative Intra-day 28.14
Value **
Last end of day 28.31325
Value ***
Last date for end 16-Feb-2012
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DEE
*** Last end of day DEE RP
DYY Financial Details
Ticker: DYY
Last Update 17-Feb-2012
12:50 PM
Price 10.56
DYY Index Level* 562.86847
Indicative Intra-day 10.17
Value **
Last end of day 10.13785
Value ***
Last date for end 16-Feb-2012
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DYY
*** Last end of day DYY RP
DDP Financial Details
Ticker: DDP
Last Update 17-Feb-2012
12:50 PM
Price 30.14
DYY Index Level* 436.80261
Indicative Intra-day 29.77
Value **
Last end of day 29.85551
Value ***
Last date for end 16-Feb-2012
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DDP
*** Last end of day DDP RP
DPU Financial Details
Ticker: DPU
Last Update 17-Feb-2012
12:50 PM
Price 18.68
DPU Index Level* 562.86847
Indicative Intra-day 18.44
Value **
Last end of day 18.40798
Value ***
Last date for end 16-Feb-2012
of day Value
Data Source: www.nyse.com
(Data delayed 20 minutes)
* Indicative intra-day and Index closing
** Indicative intra-day value of the DPU
*** Last end of day DPU RP
Contact Information
Any questions please call
1-877-369-4617
|
 |
DB Commodity ETN Symbols Commodity Double Short DEE Commodity Double Long DYY Commodity Short DDP Commodity Long DPU Details ETN price at initial listing $25.00 Inception date 4/28/08 Maturity date 4/1/38 Yearly investor fee 0.75% Listing exchange NYSE Arca Standard DB Commodity DBLCMACL Index symbol OY(TM) DB Commodity Index DBLCOYER symbol CUSIP symbols Commodity Double Long 25154H475 Commodity Long 25154H459 Commodity Short 25154H467 Commodity Doubl Short 25154H483 Intraday Intrinsic Value Symbols Commodity Double Short DEEIV Commodity Double Long DYYIV Commodity Short DDPIV Commodity Long DPUIV Risks(2) o Non-principal protected o Leveraged losses o Subject to an investor fee o Limitations on repurchase o Concentrated exposure to commodities Benefits o Leveraged and short notes o Relatively Low Cost o Intraday access o Listed o Transparent o Tax treatment(3) Issuer Details Deutsche Bank AG, London Branch Long-term Unsecured Obligations(2) factor x fee factor. See the prospectus for more complete information. Index history is for illustrative purposes only and does not represent actual PowerShares DB Commodity ETN performance. The inception date of the Deutsche Bank Liquid Commodity Index (DBLCI) is Jan. 12, 2004. The inception date of the Index's Optimum Yield version is May 24, 2006. ETN Performance is based on a combination of the monthly returns from the relevant commodity index plus the monthly returns from the DB 3-Month T-Bill Index (the "T-Bill Index"), resetting monthly as per the formula applied to the PowerShares DB Commodity ETNs, less the investor fee. The Long and Double Long ETNs are based on the Deutsche Bank Liquid Commodity Index -- Optimum YieldTM, and the Short and Double Short Commodity ETNs are based on the standard version of the Deutsche Bank Liquid Commodity Index (the "Commodity Indexes"). The T-Bill Index is intended to approximate the returns from investing in 3-month United States Treasury bills on a rolling basis. Index history does not reflect any transaction costs or expenses. Indexes are unmanaged, and you cannot invest directly in an index. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS. (2)The PowerShares DB Commodity ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch, and the amount due on the PowerShares DB Commodity ETNs is dependent on Deutsche Bank AG, London Branch's ability to pay. The PowerShares DB Commodity ETNs are riskier than ordinary unsecured debt securities and have no principal protection. Risks of investing in the PowerShares DB Commodity ETNs include limited portfolio diversification, uncertain principal repayment, trade price fluctuations, illiquidity and leveraged losses. Investing in the PowerShares DB Commodity ETNs is not equivalent to a direct investment in the index or index components. The investor fee will reduce the amount of your return at maturity or upon redemption of your PowerShares DB Commodity ETNs even if the value of the relevant index has increased. If at any time the redemption value of the PowerShares DB Commodity ETNs is zero, your Investment will expire worthless. The PowerShares DB Commodity Double Long ETN and PowerShares DB Commodity Double Short ETN are both leveraged investments. As such, they are likely to be more volatile than an unleveraged investment. There is also a greater risk of loss of principal associated with a leveraged investment than with an unleveraged investment. The PowerShares DB Commodity ETNs may be sold throughout the day on NYSE Arca through any brokerage account. There are restrictions on the minimum number of PowerShares DB Commodity ETNs that you may repurchase directly from Deutsche Bank AG, London Branch, as specified in the applicable pricing supplement. Ordinary brokerage commissions apply, and there are tax consequences in the event of sale, redemption or maturity of the PowerShares DB Commodity ETNs. Sales in the secondary market may result in losses. The PowerShares DB Commodity ETNs are concentrated in commodity futures contracts. The market value of the PowerShares DB Commodity ETNs may be influenced by many unpredictable factors, including, among other things, volatile prices, changes in supply and demand relationships, changes in interest rates, and monetary and other governmental actions. For a description of the main risks, see "Risk Factors" in the applicable pricing supplement. Not FDIC Insured -- No Bank Guarantee -- May Lose Value (3)Deutsche Bank AG, London Branch, Invesco PowerShares and their affiliates do not provide tax advice and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein (including attachments) (i) is not intended or written to be used, and cannot be used, by you for the purpose of avoiding U.S. tax related penalties and (ii) was written to support the promotion or marketing of the transactions or matters addressed herein. Accordingly, you should seek advice based on your particular circumstances from an independent tax advisor. Deutsche Bank AG, London Branch has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents filed by Deutsche Bank AG, London Branch for more complete information about the issuer and this offering. You may get these documents for free by visiting www.dbfunds.db.com/notes or EDGAR on the SEC website at www.sec.gov. Alternatively, you may request a prospectus by calling 1-877-369-4617, or you may request a copy from any dealer participating in this offering. Important Risk Considerations: The PowerShares DB Commodity ETNs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and the consequences of seeking monthly leveraged investment results, and who intend to actively monitor and manage their investments. Investing in the ETNs is not equivalent to a direct investment in the index or index components because the current principal amount (the amount you invested) is reset each month, resulting in the compounding of monthly returns. The principal amount is also subject to the investor fee, which can adversely affect returns. The amount you receive at maturity (or upon an earlier repurchase) will be contingent upon each monthly performance of the index during the term of the securities. The ETNS are not designed to be long-term investments and may not be suitable for investors seeking an investment with a term greater than the time remaining to the next monthly reset date. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. The PowerShares DB Commodity ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch, and the amount due on the PowerShares DB Commodity ETNs is dependent on Deutsche Bank AG, London Branch's ability |
 |
to pay. The PowerShares DB Commodity ETNs are riskier than ordinary unsecured debt securities and have no principal protection. The PowerShares DB ETNs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and the consequences of seeking monthly leveraged investment results, and who intend to actively monitor and manage their investments. Investing in the PowerShares DB ETNs is not equivalent to a direct investment in the index or index components because the current principal amount (the amount you invested) is reset each month, resulting in the compounding of monthly returns. The principal amount is also subject to the investor fee, which can adversely affect returns. The amount you receive at maturity (or upon an earlier repurchase) will be contingent upon each monthly performance of the index during the term of the securities. There is no guarantee that you will receive at maturity, or upon an earlier repurchase, your initial investment back or any return on that investment. Significant adverse monthly performances for your securities may not be offset by any beneficial monthly performances. Certain marketing services may be provided for these products by Invesco Aim Distributors, Inc. or its affiliate, Invesco PowerShares Capital Management LLC. Neither firm is affiliated with Deutsche Bank. PowerShares[R] is a registered trademark of Invesco PowerShares Capital Management LLC. Invesco PowerShares Capital Management LLC and Invesco Aim Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd. An investor should consider the PowerShares DB ETNs' investment objective, risks, charges and expenses carefully before investing. Copyright [C] Deutsche Bank A.G. Imprint | Legal Resources | Terms and Conditions |