The PowerShares DB 3x Italian Treasury Bond Futures Exchange Traded Notes
(Symbol: ITLT) and the PowerShares DB Italian Treasury Bond Futures Exchange
Traded Notes (Symbol: ITLY), (collectively, the "PowerShares DB BTP Futures
ETNs," or the "ETNs") provide investors with leveraged or unleveraged exposure
to the U.S. dollar value of the returns of an Italian bond futures index.

The PowerShares DB BTP Futures ETNs are based on the DB USD BTP Futures Index
(the "BTP Futures Index"), which is intended to measure the performance of a
long position in Euro-BTP Futures.

The ETNs are senior unsecured obligations issued by Deutsche Bank AG, London
Branch that are linked to the month-over-month performance of the DB USD BTP
Futures Index.

The DB USD BTP Futures Index is intended to measure the performance of a long
position in Euro-BTP Futures. The underlying assets of Euro-BTP Futures are
Republic of Italy-government issues debt securities ("BTPs") with an original
term of no longer than 16 years and remaining term to maturity of not less than
8 years and 6 months and not more than 11 years as of the futures contract
delivery date. The returns of each ETN are obtained by combining the returns
from the relevant futures index plus the returns of the TBill  index, less
investor fees. Investors can buy and sell the ETNs on the NYSE Arca exchange or
receive a cash payment at the scheduled maturity or early redemption based on
the performance of the index less investor fees. The issuer has the right to
redeem the ETNs at the repurchase value at any time.

Investors may redeem the ETNs in blocks of no less than 50,000 securities and
multiples of 50,000 securities thereafter, subject to the procedures described
in the pricing supplement. Redemptions may include a fee of up to $0.03 per
security.


FactSheet Prospectus DownloadHistoricalRepurchaseValue



FinancialDetails
                               ITLY          ITLT       -   -
                               10/22/2014    10/22/2014 -   -
LastUpdate                     12:00AMEST    9:54AMEST  -   -
Price                          29.42         56.23      -   -
IndicativeIntra-dayValue       29.40         56.09      -   -
LastEndofDayRepurchaseValue(1) 29.294        55.4473    -   -
LastDateforEndofDayValue       10/21/2014    10/21/2014 -   -
                               ------------- ---------- --- -------------------
PowerSharesDBItalianBondETN    ETNand IndexHistory(%)
and IndexData                                                     ETN
                               Asof9/30/2014   1Year 3Year 5Year10YearInception

TickerSymbols                    ETNRepurchaseValue(1)
3xBTPFutures                ITLT ItalianGovernment
BTPFutures                  ITLY Bond              21.70 15.18        -  -  11.90
IntradayIndicativeValue          3xItalian         78.67 48.08        -  -  35.19
Symbols                          GovernmentBond
3xBTPFutures             ITLTIV
BTPFutures               ITLYIV  ETNMarketPrice(2)
                                 Italian(Government) 21.50 15.12      -  -  11.85
CUSIPSymbols                     Bond
3xBTPFutures        25154W605    3xItalian         78.28 48.36        -  -  35.16
BTPFutures          25154W704    GovernmentBond
Details                          IndexHistory
ETNpriceatinception      $20.00  BTPFuturesIndex   22.24 15.69        -  -  12.39
Inceptiondate        3/22/2011
Maturitydate         3/31/2021   ComparativeIndexes(3)
Yearlyinvestorfee        0.95%   SandP500Index       19.73 22.99        -  -  15.07
(ITLT)                           BarclaysU.S.
Yearlyinvestorfee        0.50%   Aggregate          3.96 2.43         -  -  3.75
(ITLY)
                                 ----------------- ------------- ------ --- ------
LeverageReset           Monthly  ITLTIndexWeights
Frequency
Listingexchange      NYSEArca    Asof10/20/2014
DBUSDBTPFutures                  Contract             ContractExpiry    Weight(%)
Index                DBBNBTPL                                    Date
                                 EURO-BTPFUTURE              12/8/2014      100.00
Issuer
                                 ----------------- ------------- ------ --- ------
DeutscheBankAG, LondonBranch     ITLYIndexWeights
Long-term UnsecuredObligations   Asof10/20/2014
                                                      ContractExpiry
                                 Contract                               Weight(%)
Risks                                                            Date
                                 EURO-BTPFUTURE              12/8/2014      100.00


Non-principal  protected
   Leveraged losses Source: Invesco PowerShares, Bloomberg L. P. Subject to an
investor fee Limitations on repurchase (1) ETN repurchase value performance
figures reflect Concentrated exposure repurchase value, which would require
investors to have a Credit risk of the issuer minimum number of shares(found
in pricing supplement). Issuer call  right  Repurchase value is the current
principal amount x applicable index factor x fee factor.  See the prospectus
for Potential lack of liquidity more complete information.  Investors holding
less than the minimum number of shares required to efect   a repurchase  would
have to sell their shares at prevailing market prices,  Benefits which may be
at a discount to the repurchase value.  See "ETN Market Price" in this table.
ETN repurchase value is Leveraged or unleveraged long based on a combination of
three times the monthly returns, notes for the 3x BTP Futures ETNs, or the
monthly returns, for the BTP Futures ETNs, from the BTP Futures Index plus the
Relatively low cost monthly returns from the DB 3-Month  T-Bill   Index(the"T-Bi
ll        Intraday access Listed Index"), resetting monthly as per the formula
applied to the ETNs, less the investor fee.  The T-Bill Index is intended   to
approximate the returns from investing in 3-month  United States Treasury bill
on a rolling basis.

The inception date of the BTP Futures Index is September 20, 2010.

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 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
Each security offers investors exposure to the month-over-month performance of
its respective Index measured from the first calendar day to the last calendar
day of each month and the amount you receive at maturity (or upon an earlier
repurchase) will be contingent upon each monthly performance of the respective
Index during the term of the ETNs. The BTP Futures ETNs may not be suitable for
investors seeking an investment 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
leveraged investment results by means of securities that reset their exposure
monthly, resulting in the compounding of monthly returns. Investing in the ETNs
is not equivalent to a direct investment in the index or index components. The
principal amount is also subject to the monthly application of the investor
fee, which can adversely affect returns.  There is no guarantee that you wil
receive at maturity, or upon an earlier repurchase, your initial investment
back or any return on that investment. Significant adverse monthly performances
for your ETNs may not be offset by any beneficial monthly performances.

The ETNs are senior unsecured obligations of Deutsche Bank AG, London Branch,
and the amount due on the ETNs is dependent on Deutsche Bank AG, London
Branch's ability to pay. The ETNs are riskier than ordinary unsecured debt
securities and have no principal protection.

Risks of investing in the ETNs include limited portfolio diversification, ful
principal at risk, trade price fluctuations, ill iquidity and leveraged losses.
The investor fee will  reduce the amount of your return at maturity or upon
redemption of your ETNs even if the value of the relevant index has increased.
If at any time the repurchase value of the ETNs is zero, your Investment will
expire worthless. As described in the pricing supplement, Deutsche Bank may
redeem the ETNs for an amount in cash equal to the repurchase value.

The ETNs may be sold throughout the day on NYSE Arca through any brokerage
account. There are restrictions on the minimum number of ETNs that you may
redeem directly with 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 ETNs.
Sales in the secondary market may result in losses.

The ETNs provide concentrated exposure to notional positions in Euro-BTP
futures contracts. The market value of the ETNs may be influenced by many
unpredictable factors, including, among other things, changes in supply and
demand relationships, changes in interest rates, and monetary and other
governmental actions, each in the U.S. or Italy.

The 3x BTP Futures ETN is a leveraged investment. As such, it is 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 ETNs involves risks, including the loss of some or all of
the principal amount. For a description of the main risks, see "Risk Factors"
in the applicable pricing supplement and the accompanying prospectus supplement
and prospectus.

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, whol
y 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.