PowerShares DB 3x Long US Dollar Index Futures ETN

PowerShares DB 3x Short US Dollar Index Futures ETN

ETN and Index Data as of September 30, 2014

Description
The PowerShares DB 3x Long US Dollar Index Futures Exchange Traded Notes (UUPT)
and PowerShares DB 3x Short US Dollar Index Futures Exchange Traded Notes
(UDNT) (collectively, the "PowerShares DB US Dollar Futures ETNs," or the
"ETNs") provide investors a way to take a short or leveraged view on the
performance of a US dollar futures index.

The PowerShares DB US Dollar Futures ETNs are based on the Deutsche Bank Long
US Dollar Index([R]) (USDX) Futures Index -- Excess Return(TM) (the "USDX
Futures Index"), which is intended to measure the performance of a long
investment in US Dollar Index Futures, as described below.




PowerShares DB US Dollar Futures
ETN and Index Data
Ticker symbols
3x Long US Dollar Index Futures              UUPT
3x Short US Dollar Index Futures             UDNT
Intraday indicative value symbols
3x Long US Dollar Index Futures            UUPTIV
3x Short US Dollar Index Futures           UDNTIV
CUSIP symbols
3x Long US Dollar Index Futures         25154P873
3x Short US Dollar Index Futures        25154P881
Details
ETN price at inception                     $20.00
Inception date                          5/23/2011
Maturity date                           6/30/2031
Yearly investor fee                         0.95%
Leverage reset frequency                  Monthly
Listing exchange                        NYSE Arca
DB Long US Dollar Index Futures Index      USDUPX


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




ETN and Index History (%)
                                      1 Year      3 Year
ETN Repurchase Value(1)
3x Long US Dollar Index Futures        18.44       2.85
3x Short US Dollar Index Futures      -19.42      -8.22
ETN Market Price(2)
3x Long US Dollar Index Futures        22.08       3.78
3x Short US Dollar Index Futures       -4.74      -7.68
Index History
USDX Futures Index                      6.44       1.67
Comparative Indexes(3)
SandP 500 Index                        19.73      22.99
Barclays U.S. Aggregate                 3.96       2.43

5 Year      ETN Inception

    --              4.68
    --            -10.43

    --              5.76
    --            -10.17

  0.82              2.33

 15.70             15.29
  4.12              3.34



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 and the following page). 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. ETN repurchase value is based on a
combination of three times the monthly returns for the 3x Long US Dollar Index
Futures ETNs, or three times the inverse monthly returns for the 3x Short US
Dollar Index Futures ETNs, from the USDX Futures Index plus the monthly returns
from the DB 3-Month T-Bill Index (the "TBill Index"), resetting monthly as per
the formula applied to the ETNs, less the investor fee. The TBill Index is
intended to approximate the returns from investing in 3-month United States
Treasury bills on a rolling basis.
(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.
Index performance is for illustrative purposes only and does not represent
actual PowerShares DB US Dollar Futures ETN performance. The inception date of
the USDX Futures Index is Nov. 22, 2006. Index history does not reflect any
transaction costs or expenses. The index is unmanaged, and you cannot invest
directly in the index.
(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(TM) is an unmanaged
index considered representative of the US investment-grade, fixed-rate bond
market.
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.

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PowerShares DB 3x Long US Dollar Index Futures ETN

PowerShares DB 3x Short US Dollar Index Futures ETN

What are the PowerShares US Dollar Futures ETNs?
The ETNs are senior unsecured obligations issued by Deutsche Bank AG, London
Branch that are linked to the month-over-month performance of an underlying
index (the "Index") obtained by combining three times the returns for the 3x
Long US Dollar Index Futures ETNs, or three times the inverse returns for the
3x Short US Dollar Index Futures ETNs, whether positive or negative, on the
Deutsche Bank Long US Dollar Index([R]) (USDX) Futures Index -- Excess
Return(TM), with returns on the DB 3-Month T-Bill Index, less the investor
fees.

The DB Long US Dollar Index([R]) (USDX) Futures Index seeks to measure the
performance of a long position in the US Dollar Index Futures. The underlying
assets of the US Dollar Index Futures are futures contracts traded on the ICE
Futures US, Inc. whose underlying asset is the USDX([R]), which measures the
performance of the US dollar against a weighted basket of six major world
currencies: the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish
Krona and Swiss Franc (the "Index Currencies"). The price of US Dollar Index
Futures are set by the market and reflect the foreign exchange futures prices
for the underlying Index Currencies which in turn depend on the current
exchange rates for the Index Currencies and the interest rate differential
between the US dollar and the underlying Index Currencies. As such, increases
in the USDX Futures Index generally reflect a strengthening of the US dollar
compared to the Index Currencies and declines generally reflect a weakening of
the US dollar compared to the Index Currencies.

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 200,000 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.

Benefits and Risks of PowerShares DB US Dollar Futures ETNs

Benefits
[]      Leveraged long or short notes
[]      Relatively low cost
[]      Intraday access
[]      Exchange traded


Risks
[]     Non-principal protected
[]     Leveraged losses
[]     Subject to an investor fee
[]     Limitations on redemption
[]     Concentrated exposure
[]     Credit risk of the issuer
[]     Issuer call right
[]     Potential lack of liquidity

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
powersharesetns.com | 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.
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 US Dollar 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 inverse or 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 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 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, full principal at risk, trade price
fluctuations, illiquidity 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 US Dollar Index
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.
The ETNs are 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.
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.
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.
An investor should consider the ETNs' investment objectives, risks, charges and
expenses carefully before investing.
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 This material must be
accompanied or preceded by a prospectus. Before investing, please read the
prospectus carefully.
Note: Not all products available through all firms or in all jurisdictions.

P-USDX-ETN-PC-1-E[] 10/14