February 11, 2014 -- The Property Trustee of Deutsche Bank Capital Funding Trust X have been notified that on 17 March 2014, Deutsche Bank AG will redeem its Initial Debt Securities and Deutsche Bank Capital Funding LLC X will redeem its Class B Preferred Securities. We therefore hereby give notice that subject to receipt of the Redemption Price in full by the Property Trustee, the 32,200,000 7.35% Noncumulative Trust Preferred Securities, issued by Deutsche Bank Capital Funding Trust X on 15 November 2007, will be redeemed on 17 March 2014 at their liquidation preference amount of USD 25 per Trust Preferred Security. _________________ This security is possibly subject to an early call as a result of the occurrence of a Regulatory Event (see prospectus for further information) stemming from the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Deutsche Bank Capital Funding Trust X, 7.350% Noncumulative Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Deutsche Bank AG (NYSE: DB) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), and redeemable at the issuer's option on or after 12/15/2012 at $25 per share plus declared and unpaid dividends. The trust preferred securities do not have a maturity date. Noncumulative distributions of 7.35% ($1.8375) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-52 of the prospectus for further information). The trust's assets consist of the 7.350% Class B Preferred Securities issued by Deutsche Bank Capital Funding LLC X which do not have a maturity date and which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	7.35% $1.8375	$25.00 $25.00	Called for 3/17/2014 None	Ba2 BBB- 10/06/2013	3/15, 6/15, 9/15 & 12/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	YES

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HOME PAGE:     http://www.db.com/
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Email Address

db.ir@db.com

Foreign Address and Phone Numbers

Address:   60262 Frankfurt am Main Germany
Main Phone Number	+49-69-910-00
Fax Number	+49-69-910-34225
Inv Rel Phone Number	+49-69-910-35395

Address and Phone Numbers

U.S. Representative	N.A.
Address:   31 West 52nd Street, 29th Floor, New York, NY 10019
Main Phone Number	212-469-7125
Fax Number	212-469-7322
Investor Relations	212-469-7125
Toll Free Phone Number	Unknown