BASE METALS


The PowerShares DB Base Metals Double Long Exchange Traded Note (Symbol: BDD),
PowerShares DB Base Metals Long Exchange Traded Note (Symbol: BDG), PowerShares
DB Base Metals Short Exchange Traded Note (Symbol: BOS) and PowerShares DB Base
Metals Double Short Exchange Traded Note (Symbol: BOM) (collectively, the
"PowerShares DB Base Metals ETNs") provide investors a way to take a long,
short or leveraged view on the performance of base metals.

All of the PowerShares DB Base Metals ETNs are based on a total return version
of the Deutsche Bank Liquid Commodity Index -- Optimum Yield Industrial
Metals[], which is intended to track the long or short performance of futures
contracts relating to aluminum, copper and zinc.

Investors can buy and sell PowerShares DB Base Metals 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 offer PowerShares DB Base Metals ETNs in blocks of
no less than 5,000 securities and integral multiples of 5,000 securities
thereafter for purchase, subject to the procedures described in the pricing
supplement which include a fee of up to $0.03 per security.

Fact Sheet Prospectus Download Historical Repurchase Value




Financial Details
                                    BDD
                                    7/15/2014
Last Update                         4:00 PM EST
Price                               8.86
Indicative Intra-day Value          8.91
Last End of Day Repurchase Value(1) 8.8748
Last Date for End of Day Value      7/14/2014





BDG          BOS          BOM
7/15/2014    7/15/2014    7/15/2014
12:00 AM EST 12:00 AM EST 4:00 PM EST
18.28        22.05        12.91
18.58        21.34        13.12
18.5467      21.3807      13.1732
7/14/2014    7/14/2014    7/14/2014





PowerShares DB Base Metals ETN
and Index Data
Ticker Symbols
Base Metals Double
Long                 BDD
Base Metals Long     BDG
Base Metals Short    BOS
Base Metals Double
Short                BOM
Intraday Indicative Value Symbols
Base Metals Double BDDIV
Long
Base Metals Long   BDGIV
------------------ --------------





ETN and Index History(%)
As of 6/30/2014          1 Year 3 Year
ETN Repurchase Value(1)
Base Metals Double Long    9.34 -23.08
Base Metals Long           4.75 -10.55
Base Metals Short         -6.79   5.94
Base Metals Double Short -13.28   8.90
ETN Market Price(2)
Base Metals Double Long    9.61 -22.84
Base Metals Long          21.33 -10.57
Base Metals Short         15.00   5.35





                 ETN
5 Year 10 Year Inception
  0.46       -  -16.66
  2.42       -   -5.33
 -8.15       -   -2.02
-19.16       -   -9.06
  0.55       -  -16.77
  2.55       -   -5.30
 -8.26       -   -2.07

Base Metals Short         BOSIV
Base Metals Double
Short                     BOMIV
CUSIP Symbols
Base Metals Double
Long                  25154K841
Base Metals Long      25154K825
Base Metals Short     25154K833
Base Metals Double
Short                 25154K858
Details
ETN price at listing     $25.00
Inception date          6/16/08
Maturity date            6/1/38
Yearly investor fee       0.75%
Listing exchange      NYSE Arca
Index Symbol             DBBMIX


Issuer
Deutsche Bank AG, London Branch Long-term Unsecured Obligations

Risks

Non-principal protected
Leveraged losses
Subject to an investor fee
Limitations on repurchase
Concentrated exposure
Acceleration risk
Credit risk of the issuer
Potential lack of liquidity

Benefits

Leveraged and short notes
Relatively low cost
Intraday access
Listed
Transparent




Base Metals Double Short              -11.13
Index History
Deutsche Bank Liquid Commodity
Index-Optimum Yield Industrial Metals   5.49
Comparative Indexes(3)
SandP 500 Index                        24.61
Barclays U.S. Aggregate                 4.37





 8.83 -19.05  -   -8.83
-9.92   3.11  -   -4.78
16.58  18.83  -    8.74
 3.66   4.85  -    5.19





Index Weights
As of 7/14/2014
Commodity        Contract Expiry Date Weight (%)
Aluminium                  10/15/2014       32.04
Copper - Grade A           10/15/2014       31.30
Zinc                       12/17/2014       36.66


Source: Invesco PowerShares, Bloomberg L.P.

(1)ETN repurchase value performance figures reflect repurchase value, which
would require investors to have a minimum number of shares (found in pricing
supplement). Repurchase value is the current principal amount x applicable
index factor x fee factor. See the prospectus for more complete information.
Investors holding less than the minimum number of shares required to effect a
repurchase would have to sell their shares at prevailing market prices, which
may be at a discount to the repurchase value. See "ETN Market Price" in this
table. Index history is for illustrative purposes only and does not represent
actual PowerShares DB Base Metals ETN performance. The inception date of the
Deutsche Bank Liquid Commodity Index - Optimum Yield Industrial Metals[] is
July 12, 2006. ETN repurchase value is based on a combination of the monthly
returns from the Deutsche Bank Liquid Commodity Index -- Optimum Yield
Industrial Metals Excess Return[] (the "Base Metals 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 Base Metals ETNs, less
the investor fee. The T-Bill Index is intended to approximate the returns from
investing in 3-month United States Treasury bills on a rolling basis.

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.

(2)ETN market price performance is calculated using the change in the bid/ask
midpoint at 4 p.m. ET expressed as a percentage change from the beginning to
the end of the specified time period.

(3)The  SandP  500([R])  Index  is  an  unmanaged index used as a measurement of
change  in stock market conditions based on the performance of a specified group
of common stocks. The Barclays U.S. Aggregate Bond Index[] is an unmanaged index
considered  representative of the U.S. investment-grade, fixed-rate bond market.
Index  history  does  not reflect any transaction costs or expenses. Indexes are
unmanaged, and you cannot invest directly in an index.

Important Risk Considerations
The PowerShares DB Base Metals ETNs may not be suitable for investors with a
term greater than the time remaining to the next monthly reset date and should
be used only by knowledgeable investors who understand the potential adverse
consequences of seeking longer term inverse or leveraged investment results by
means of securities that reset their exposure monthly. 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. 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 Base Metals ETNs are senior unsecured obligations of
Deutsche Bank AG, London Branch, and the amount due on the PowerShares DB Base
Metals ETNs is dependent on Deutsche Bank AG, London Branch's ability to pay.
The PowerShares DB
Base Metals ETNs are riskier than ordinary unsecured debt securities and have
no principal protection. Risks of investing in the PowerShares DB Base Metals
ETNs include limited portfolio diversification, full principal at risk, trade
price fluctuations, illiquidity and leveraged losses. Investing in the
PowerShares DB Base Metals 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 Base Metals ETNs
even if the value of the relevant index has increased. If at any time the
redemption value of the PowerShares DB Base Metals ETNs is zero, your
investment will expire worthless. Deutsche Bank may accelerate the PowerShares
DB Base Metals ETNs upon the occurrence of a regulatory event as described in
the pricing supplement. Ordinary brokerage commissions apply, and there are tax
consequences in the event of sale, redemption or maturity of the PowerShares DB
Base Metals ETNs. Sales in the secondary market may result in losses. An
investment in the PowerShares DB Base Metals ETNs may not be suitable for all
investors.

The PowerShares DB Base Metals ETNs provide concentrated exposure to notional
positions in aluminum, copper and zinc futures contracts. The market value of
the PowerShares DB Base Metals ETNs may be influenced by many unpredictable
factors, including, among other things, volatile base metal prices, changes in
supply and demand relationships, changes in interest rates, and monetary and
other governmental actions. Because the ETNs provide concentrated exposure to
notional positions in futures contracts of a single commodity sector, they are
speculative and generally will exhibit higher volatility than commodity
products linked to more than one commodity sector.

The PowerShares DB Base Metals Double Long ETN and PowerShares DB Base Metals
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.

An investment in the PowerShares DB Base Metals ETNs involves risks, including
possible loss of principal. For a description of the main risks, see "Risk
Factors" in the applicable pricing supplement.

Not FDIC Insured -- No Bank Guarantee -- May Lose Value

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.dbxus.com or EDGAR on the SEC website at www.sec.gov. Alternatively, you
may request a prospectus by calling 800.983.0903 | 877.369.4617, or you may
request a copy from any dealer participating in this offering.

Certain marketing services may be provided for these products by Invesco
Distributors, Inc. or its affiliate, Invesco PowerShares Capital Management
LLC. Invesco Distributors, Inc. will be compensated by Deutsche Bank or its
affiliates for providing these marketing services. Neither Invesco
Distributors, Inc. nor Invesco PowerShares is affiliated with Deutsche Bank.

PowerShares([R]) is a registered trademark of Invesco PowerShares Capital
Management LLC. Invesco PowerShares Capital Management LLC is an indirect,
wholly owned subsidiary of Invesco Ltd.

This material must be accompanied or preceded by a prospectus. Before
investing, please read the prospectus carefully.

An investor should consider the securities' investment objective, risks,
charges and expenses carefully before investing.