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Number six

Deutsche Bank to redeem six ETNs

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Deutsche Bank has elected to redeem six PowerShares DB exchange traded notes (ETNs).

The ETNs in question are: 
• PowerShares DB 3x Italian Treasury Bond Futures ETN (ticker: ITLT)
• PowerShares DB Italian Treasury Bond Futures ETN (ticker: ITLY)
• PowerShares DB US Inflation ETN (ticker: INFL)
• PowerShares DB US Deflation ETN (ticker: DEFL)
• PowerShares DB 3x Long US Dollar Index Futures ETN (ticker: UUPT)
• PowerShares DB 3x Short US Dollar Index Futures ETN (ticker: UDNT)

As described in the related pricing supplement for each ETN, Deutsche Bank, as Issuer of the ETNs, may redeem the ETNs at its sole discretion on any trading day on or after the inception date until maturity.

Deutsche Bank expects to provide notice of redemption via The Depository Trust Company on 18 February, 2015. The repurchase value of the ETNs will be determined as of the date notice is given. Payment of the repurchase value of the ETNs will be made on the fifth business day following the date of notice, which is expected to be February 25, 2015. Accordingly, the last trading day for each ETN is expected to be February 24, 2015. Daily creations of each of the ETNs will be suspended immediately. Daily repurchases at the option of investors will be accepted in the normal manner up to and including 18 February, 2015.

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