LONDON (Standard&Poor's) Nov. 19, 2014--Standard&Poor's Ratings Services today assigned its 'BB' long-term issue rating to the $1.5 billion 7.5% undated additional Tier 1 notes to be issued by Deutsche Bank AG. This is consistent with the ratings on the additional Tier 1 notes that the bank issued in May 2014. The rating is subject to our review of the notes' final documentation. In accordance with our criteria for hybrid capital instruments, the 'BB' rating reflects our analysis of the proposed instrument, and our assessment of Deutsche Bank's stand-alone credit profile (SACP) of 'bbb+' (see "Bank Hybrid Capital And Nondeferrable Subordinated Debt Methodology And Assumptions," published on Sept. 18, 2014, on RatingsDirect). The 'BB' issue rating stands
