Bond DEUTSCHE BANK AG 0% ( DE000DB9BXA4 ) in USD

Issuer DEUTSCHE BANK AG
Market price 100 %  ▲ 
Country  Germany
ISIN code  DE000DB9BXA4 ( in USD )
Interest rate 0%
Maturity 15/05/2017 - Bond has expired



Prospectus brochure of the bond DEUTSCHE BANK AG DE000DB9BXA4 in USD 0%, expired


Minimal amount /
Total amount /
Detailed description Deutsche Bank AG is a German multinational investment bank and financial services corporation headquartered in Frankfurt, offering a wide range of financial products and services to corporate and institutional clients globally.

The Bond issued by DEUTSCHE BANK AG ( Germany ) , in USD, with the ISIN code DE000DB9BXA4, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Bond maturity is 15/05/2017








FINAL TERMS



Deutsche Bank AG London
Up to 50,000,000 aXess Warrants linked to the Shares of Aabar Petroleum
Investments Company with Issue Price: USD 2.50
Up to 50,000,000 aXess Warrants linked to the Shares of Abu Dhabi National
Hotels with Issue Price: USD 4.38
Up to 50,000,000 aXess Warrants linked to the Shares of Abu Dhabi Ship
Building Co. with Issue Price: USD 2.85
Up to 50,000,000 aXess Warrants linked to the Shares of Emirates Food
Stuff and Mineral Water Company AGTHIA P.J.S.C. with Issue Price: USD
1.40
Up to 50,000,000 aXess Warrants linked to the Shares of ALDAR Properties
PJSC with Issue Price: USD 6.46
Up to 50,000,000 aXess Warrants linked to the Shares of International Fish
Farming with Issue Price: USD 4.71
Up to 50,000,000 aXess Warrants linked to the Shares of Abu Dhabi National
Co. for B and M with Issue Price: USD 3.62
Up to 50,000,000 aXess Warrants linked to the Shares of Bank of Sharjah
with Issue Price: USD 2.25
Up to 50,000,000 aXess Warrants linked to the Shares of Commercial Bank
International with Issue Price: USD 2.18
Up to 50,000,000 aXess Warrants linked to the Shares of FOODCO Holding
P.J.S.C with Issue Price: USD 3.69
Up to 50,000,000 aXess Warrants linked to the Shares of Gulf Medical
Projects with Issue Price: USD 4.04
Up to 50,000,000 aXess Warrants linked to the Shares of National Bank of
Abu Dhabi with Issue Price: USD 20.00
Up to 50,000,000 aXess Warrants linked to the Shares of Oasis International
Leasing Co. with Issue Price: USD 11.60
Up to 50,000,000 aXess Warrants linked to the Shares of UMM AL-QAIWAIN
CEMENT INDUSTRIES CO. with Issue Price: USD 2.35
Up to 50,000,000 aXess Warrants linked to the Shares of National Bank of
Ras Al-Khaimah with Issue Price: USD 5.50
Up to 50,000,000 aXess Warrants linked to the Shares of Ras Al Khaimah
Cement Company with Issue Price: USD 1.92
Up to 50,000,000 aXess Warrants linked to the Shares of Ras Al Khaimah
Ceramic Co. with Issue Price: USD 4.30
Up to 50,000,000 aXess Warrants linked to the Shares of RAK Properties
with Issue Price: USD 1.29
Up to 50,000,000 aXess Warrants linked to the Shares of Sharjah Cement
and Industrial Development Co. with Issue Price: USD 3.40
Up to 50,000,000 aXess Warrants linked to the Shares of Sorouh Real Estate
with Issue Price: USD 3.67



Up to 50,000,000 aXess Warrants linked to the Shares of United Arab Bank
with Issue Price: USD 6.03
Up to 50,000,000 aXess Warrants linked to the Shares of Union Cement Co.
with Issue Price: USD 4.22
Up to 50,000,000 aXess Warrants linked to the Shares of Union National
Bank with Issue Price: USD 7.21
Issued under its
aXess Programme

The issuer (the "Issuer") of the securities described in these Final Terms is the London branch of Deutsche
Bank AG ("Deutsche Bank AG London") which is incorporated under the laws of Germany. Deutsche
Bank AG London is registered as a foreign company in England and Wales.
Under its X-markets aXess Programme (the "Programme") the Issuer is authorised to and may issue
securities relating to shares. The Issuer has determined to issue the series of aXess Warrants described
above (each a "Series" and the securities comprising a Series the "Securities") relating to the Shares
specified above, in each case upon the product terms and conditions set out in the "Product Conditions"
section of this document (the "Product Conditions") and the general terms and conditions set out in the
"General Conditions" section of this document (the "General Conditions", which together with the
Product Conditions shall be referred to as the "Conditions"). This Programme shall be used for Securities
for which the Issuer has elected Luxembourg as its home Member State as defined in Directive 2003/71/EC
Chapter 1, Article 2(1)(m). For the purposes of the Conditions, the Securities of a Series shall form a
separate series of Securities and the Conditions shall apply mutatis mutandis separately and
independently to the Securities of each Series. References to Securities, Securityholders and related
expressions shall be construed accordingly. References to the term "Underlying" in relation to a Series
shall be construed as references to the relevant Shares specified above.
The Securities will represent unsubordinated, unsecured contractual obligations of the Issuer which will
rank pari passu in all respects with each other and with all other unsubordinated, unsecured obligations of
the Issuer. The Securities are not insured by the U.S. Federal Deposit Insurance Corporation.
The Issuer has a right of substitution and a right to change the office through which it is acting, subject as
provided in General Condition 8.
Application has been made to list the Securities on the Official List of the Luxembourg Stock Exchange
and to trade them on the Euro MTF Market of the Luxembourg Stock Exchange, which is not a regulated
market for the purposes of Directive 2003/71/EC.
The Securities will be represented by a separate global security (a "Global Security") in respect of each
Series which the Issuer will deposit with a depository on behalf of the Clearing Agent(s) (as defined in the
Product Conditions) on the date of issue of the Securities. Definitive Securities will not be issued.
The Securities are transferable in accordance with applicable law and any rules and procedures for the
time being of any Clearing Agent through whose books any of the Securities are transferred.
The Securities may be sold by the Issuer at such times and at such prices as the Issuer may select
provided that where the Securities are listed on any stock exchange any sale shall be subject to
applicable regulations of any such stock exchange. There is no obligation upon the Issuer to sell all of
the Securities. The Securities may be offered or sold from time to time in one or more transactions, in the
over-the-counter market or otherwise at prevailing market prices or in negotiated transactions, in each
case at the discretion of the Issuer. Any offers of Securities by the Issuer in the United States will be
made through Deutsche Bank Securities Inc. (the "US Selling Agent" and, collectively with any other
selling agents for the Securities, the "Selling Agents").
Prospective purchasers of the Securities should ensure that they understand fully the nature of
the Securities, as well as the extent of their exposure to risks associated with an investment in the
Securities and should consider the suitability of an investment in the Securities in light of their
own particular financial, fiscal and other circumstances. Prospective purchasers of the Securities
should refer to the "Risk Factors" section of this document. The Securities of a Series will
represent unsubordinated, unsecured contractual obligations of the Issuer which will rank pari
passu in all respects with each other.
The Securities have not been and will not be registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"). The Securities may not be offered or sold except to persons reasonably
believed by the Selling Agent to be "qualified institutional buyers" as defined in Rule 144A under the
Securities Act or to non-U.S. persons located outside the United States in reliance on Regulation S under
the Securities Act. For a description of certain restrictions on the sale and transfer of the Securities,
please refer to the General Selling and Transfer Restrictions section of this document.
Terms used herein shall be deemed to be fined as such for the purposes of the Terms and
Conditions (the "Conditions") set forth in the Base Prospectus dated 12 September 2006 and are

ii



incorporated by reference herewith. This document consitutes the Final Terms of the Securities
and must be read in conjuction with the Base Prospectus dated 05 September 2007 and are dated
01 November 2007.

Deutsche
Bank

iii






IMPORTANT



Subject as set out in Information Relating to the Underlying contained herein, the Issuer
accepts responsibility for the information contained in this document. To the best of the
knowledge and belief of the Issuer (who has taken all reasonable care to ensure that such is
the case) the information contained in this document is in accordance with the facts and
does not omit anything likely to affect the import of such information.
No dealer, salesman or other person is authorised to give any information or to make any
representation other than those contained in this document in connection with the offering or
sale of the Securities and, if given or made, such information or representation must not be
relied upon as having been authorised by the Issuer. None of this document and any further
information supplied in connection with the Securities is intended to provide the basis of any
credit or other evaluation and should not be considered as a recommendation by the Issuer
that any recipient of this document or any further information supplied in connection with the
Securities should purchase any of the Securities. Each investor contemplating purchasing
Securities should make its own independent investigation of the risks involved in an
investment in the Securities. Neither this document nor any other information supplied in
connection with the Securities constitutes an offer by or on behalf of the Issuer or any other
person which, if accepted by an investor, would result in a valid subscription or purchase
with regard to the relevant Securities.
The delivery of this document does not at any time imply that the information contained
herein is correct at any time subsequent to the date of this document or that any further
information supplied in connection with the Securities is correct as of any time subsequent
to the date indicated in the document containing the same.
The distribution of this document and the offering of the Securities in certain jurisdictions
may be restricted by law. The Issuer does not represent that this document may be lawfully
distributed, or that the Securities may be lawfully offered, in compliance with any applicable
registration or other requirements in any jurisdiction, or pursuant to an exemption available
thereunder, or assumes any responsibility for facilitating any distribution or offering.
Accordingly, the Securities may not be offered or sold, directly or indirectly, and none of this
document, any advertisement relating to the Securities and any other offering material may
be distributed or published in any jurisdiction, except under circumstances that will result in
compliance with any applicable laws and regulations. Persons into whose possession this
document comes must inform themselves about, and observe, any such restrictions. Please
refer to General Selling and Transfer Restrictions contained in the section entitled General
Information contained in this document, and the additional information contained in the
section "Country Specific Information" attached hereto.
This document may contain forward-looking statements. Forward-looking statements are
statements that are not historical facts, including statements about beliefs and expectations.
Any statement in this document that states intentions, beliefs, expectations or predictions
(and the assumptions underlying them) is a forward-looking statement. These statements
are based on plans, estimates, and projections as they are currently available to the
management of the Issuer. Forward-looking statements therefore speak only as of the date
they are made, and the Issuer undertakes no obligation to update publicly any of them in
light of new information or future events. Forward-looking statements involve inherent risks
and uncertainties. A number of important factors could therefore cause

actual results of the
Issuer or of the Securities to differ materially from those contained in any forward-looking
statement.
The Issuer does not provide legal, tax, or accounting advice. This document was prepared
solely in connection with the promotion or marketing, to the extent permitted by applicable
law, of the Securities and was not intended or written to be used, and cannot be used or
relied upon, by any investor for purposes of avoiding any U.S. federal income tax penalties.
Investors should seek advice from an independent tax advisor regarding any tax matters
addressed in this docum
ii
ent based on their particular circumstances.



TABLE OF CONTENTS


SUMMARY...................................................................................................................................1
SUMMARY OF RISK FACTORS .................................................................................................2
DOCUMENTS INCORPORATED BY REFERENCE ...................................................................4
SUMMARY OF TERMS AND CONDITIONS OF THE OFFER....................................................5
SUMMARY OF ISSUER DESCRIPTION...................................................................................17
RISK FACTORS ........................................................................................................................19
PRODUCT SPECIFIC RISK FACTORS ....................................................................................20
COUNTRY SPECIFIC INFORMATION - UNITED STATES ......................................................30
PRODUCT Q&A.........................................................................................................................31
UNITED STATES SECURITIES AND OTHER LAWS...............................................................37
ERISA ........................................................................................................................................38
FINANCIAL INFORMATION ......................................................................................................39
UNITED STATES TAXATION....................................................................................................41
PLAN OF DISTRIBUTION IN THE UNITED STATES ...............................................................42
MATERIAL INTERESTS/CONFLICTS OF INTEREST..............................................................43
TERMS OF THE OFFER ...........................................................................................................46
GENERAL INFORMATION........................................................................................................47
GENERAL DESCRIPTION OF THE PROGRAMME .................................................................48
GENERAL TAXATION INFORMATION.....................................................................................48
GENERAL SELLING AND TRANSFER RESTRICTIONS.........................................................52
iii







PUBLICATION OF BASE PROSPECTUS AND FINAL TERMS ...............................................57
PRODUCT CONDITIONS..........................................................................................................58
GENERAL CONDITIONS ..........................................................................................................85
INFORMATION RELATING TO THE UNDERLYING ................................................................90
PARTY LIST ............................................................................................................................147
ANNEX A .................................................................................................................................148

iv



SUMMARY

The information set out below is a summary only and should be read in conjunction with the
rest of the document. This summary is intended to convey the essential characteristics and
risks associated with the Issuer, and in relation to the Securities and does not purport to be
complete. It is taken from, and is qualified in its entirety by, the remainder of this document.
Accordingly, this summary should be read as an introduction to the document, and any
decision to invest in the Securities should be based on consideration of the document as a
whole by an investor.

Prospective investors should be aware that where a claim relating to the information
contained in this document is brought before a court, the investor making the claim might,
under the national legislation of the respective EU member state, have to bear the costs of
translating the prospectus before the legal proceedings are initiated.

Civil liability attaches to the Issuer who has tabled the summary including the translation
thereof and applied for its notification, but only if the summary is misleading, inaccurate or
inconsistent when read together with the other parts of the document.

Defined terms used in this Summary have the meaning given to them in the Product
Conditions section of this Document.
This Summary contains:
Summary of Risk Factors
Summary of Terms and Conditions of the Offer
Summary of Issuer Description
1







SUMMARY OF RISK FACTORS

1.
Risk Factors relating to the Issuer's ability to meet its obligations under the
Securities
The value of the Securities is expected to be affected, in part, by investors' general appraisal
of the Issuer's creditworthiness. Any reduction in the creditworthiness of the Issuer could
result in a reduction, which in some cases may be considerable, in the value of the
Securities and could have an adverse impact on the Issuer's ability to meet its commitments
arising from the Securities. Further risks relating to the Issuer's ability to meet its obligations
under the Securities include a change in the rating of the Issuer and the general
creditworthiness of the Issuer and further information on these and other risks is set out in
"Risk Factors".

Ratings
Ratings assigned to the issuer by certain independent rating agencies are an indicator of the
issuer's ability to meet its obligations in a timely manner. The lower the assigned rating is on
the respective scale the higher the respective rating agency assesses the risk that
obligations will not be met at all or not be met in a timely manner. As of the publication date
of this summary, the following ratings were assigned to Deutsche Bank:

Rating Agency
Long-term
Short-term
Standard & Poors (S&P)
AA-
A-1+
Moodys Aa1
P-1
Fitch AA-
F1+

Rating agencies may change their ratings at short notice. A rating's change may affect the
price of securities outstanding.

2








2.
Summary of Risks relating to the Securities

An investment in the Securities involves risks. These risks may include, among others,
equity market, bond market, foreign exchange, interest rate, market volatility and economic,
political and regulatory risks and any combination of these and other risks. Some of these
are briefly discussed below. Prospective purchasers should be experienced with respect to
transactions in instruments such as the Securities and in the underlying shares of the
relevant Share Company to which the Securities of a Series are linked (the "Underlying"),
subject to adjustment in accordance with Product Condition 4. Prospective purchasers
should understand the risks associated with an investment in the Securities and should only
reach an investment decision after careful consideration, with their legal, tax, accounting and
other advisers, of (i) the suitability of an investment in the Securities in the light of their own
particular financial, tax and other circumstances, (ii) the information set out in this document
and (iii) the Underlying.
This document is not, and does not purport to be, investment advice.
The return (if any) an investor may receive is based on the performance of the Underlying
and movements in an exchange rate (being the rate of exchange between the currency of
the Underlying which is in respect of a Series, the currency specified as the Reference
Currency in relation to such Series under "Securities" in Product Condition 1 and the
currency in which the Securities are settled which is USD). The Securities may decline in
value and investors should be prepared to sustain a total loss of their investment in the
Securities.

An investment in the Securities should only be made after assessing the direction, timing
and magnitude of potential future changes in the value of the Underlying and/or in the
applicable exchange rate, as the case may be, as the return of any such investment will be
dependent, inter alia, upon such changes. More than one risk factor may have simultaneous
effect with regard to the Securities such that the effect of a particular risk factor may not be
predictable. In addition, more than one risk factor may have a compounding effect which
may not be predictable. No assurance can be given as to the effect that any combination of
risk factors may have on the value of the Securities.

Any amounts payable in respect of the Securities are subject to the deduction of
certain taxes, duties and/or expenses.
3







DOCUMENTS INCORPORATED BY REFERENCE


The following documents shall be deemed to be incorporated in, and to form part of,
this Final Terms:

The Terms and Conditions dated 12th September 2006



The document specified above and incorporated by reference shall be available at the
registered office of the Issuer and in Luxembourg at the Issuer's branch office,
Deutsche Bank Luxembourg Branch, 2, Boulevard Konrad Adenauer, L-1115
Luxembourg or at the Issuer's agent in Luxembourg, Banque de Luxembourg, at 55,
rue des Scillas, L-2529, Luxembourg.


The document incorporated by reference shall also be available for viewing on the
website of Luxembourg Stock Exchange: www.bourse.lu.


































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Document Outline