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Deutsche Bank reduces redemption size of two ETNs


Deutsche Bank is to reduce the redemption unit size on two of its equity-based Exchange Traded Notes (ETNs). The redemption unit size will change from 250,000 ETNs to 10,000 ETNs. This change will be effective after the close of trading on 4 January, 2016.

The ETNs in question are: ELEMENTS – “Dogs of the Dow” Linked to the Dow Jones High Yield Select 10 Total Return Index; and ELEMENTS Linked to the Morningstar Wide Moat Focus Total
Return Index.
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 reduction of the redemption unit size, as described above, may materially influence the market value and the liquidity of the ETNs.
Investors considering any purchase or sale 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, and be aware of the risks of buying at a premium or selling at a discount to the indicative value.

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