General Terms & Conditions

Copyright © 2014

Disclaimer: © 2013 Deutsche Bank. The information provided in this document does not constitute investment advice; its sole purpose is to provide a brief description of the product. You should be aware that certain transactions give rise to substantial risk. Product values may be affected by market values, interest rates, exchange rates, volatility, dividend yields and issuer credit ratings. These factors are interrelated in complex ways, and as a result, the effect of any one factor may be offset or magnified by the effect of another factor. Accordingly, certain transactions are not suitable or appropriate for all investors. You should take steps to ensure that you fully understand any transaction which you intend entering into and have made an independent assessment of the transaction in the light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction. You should also consider seeking advice from your advisers in making this assessment. This Document should not be considered as a recommendation by Deutsche Bank or any of its affiliates that the db x-trackers ETS are a suitable investment. db x-trackers may or may not be suitable for all investors. Deutsche Bank AG or any of its affiliates does not guarantee the performance of the db x-trackers. Past performance is no guarantee of future returns.
The complete terms and conditions should be taken from the respective offering circular; this, and any supplements, may be obtained free of charge from Deutsche Bank AG or any of its affiliates. Any investment in a db x-trackers ETF should be made solely on the basis of the Listing Particulars. All statements of opinion reflect the current assessment of Deutsche Bank AG or any of its affiliates, which may change without prior notice. Although the information herein has been obtained from sources believed to be reliable, Deutsche Bank AG or any of its affiliates does not guarantee its accuracy, completeness or fairness.
Deutsche Bank or any of its affiliates may make markets or hold units in the db x-trackers ETFs mentioned in this document or hold positions in the investments in which the db x-trackers invest.
As set out in the offering circular, the sale of securities is subject to restrictions in some jurisdictions. In particular, any direct or indirect distribution of this document into the United States, Canada or Japan, or to U.S. persons or U.S. residents, is prohibited


Index Disclaimer: The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, FTSE, STOXX Limited and/or Dow Jones & Company, Inc (“Index Providers”) and they bear no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Offering Circular and the relevant Supplement contain a more detailed description of the limited relationship the Index Providers has with Deutsche Bank AG or any of its affiliates, db x-trackers and any related ETFs.
All database rights, copyright and any other intellectual property rights in the Index and constituent list vests in the Index Providers and/or its licensors. Deutsche Bank AG or any of its affiliates has obtained full license from the Index Providers to use such database rights, copyright and other intellectual property rights in the creation of this product.
The Index Providers and Deutsche Bank AG or any of its affiliates make no warranty or representation whatsoever either as to the results obtained from use of the indices and/or the figures at which the said indices stand at any particular day or otherwise. These index sponsors shall not be liable to any person for any error in their indices and shall not be under any obligation to advise any person of any error therein.


General Disclaimer in terms of Collective Investment Schemes in Securities: db x-trackers are Collective Investment Schemes in Securities (CIS) which are generally medium to long term investments. The value of participatory interests may go down as well as up and past performance is not necessarily a guide to the future. CIS are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available on request from db x-trackers. Commission and incentives may be paid and if so, would be included in the overall costs.

db x-trackers securities are Exchange Traded Funds (ETFs) that trade on stock exchanges. Trading in ETFs will incur the normal costs associated with listed securities, including brokerage, settlement costs, Securities Transfer Tax (STT), other statutory costs and administrative costs. The price at which ETFs trade on an Exchange may differ from the Net Asset Value price published at the close of the trading day, because of intraday price movements in the value of the constituent basket of securities.

In the case of db x-trackers securities fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down.
db X-trackers