DEUTSCHE BANK AKTIENGESELLSCHAFT

AI-generated fair value estimate for this company.

Method: Indicative/mark-to-formula note value: last OTC Pink trade used as a proxy for the daily-calculated Indicative Note Value

Reasoning: ADZCF is Deutsche Bank AG's OTC-traded tranche of the DB Agriculture Short Exchange-Traded Note (matures 4/1/2038), giving -100% monthly inverse exposure to the DBLCI-OY Agriculture Excess Return Index (corn, soybeans, sugar, wheat) less a 0.75% investor fee; because arbitrage pins ETN prices to their formulaic index-tracking value and Deutsche Bank is investment-grade (minimal issuer credit risk on this unsecured obligation), the last traded price of $35.00 (~$127k market cap, very thin volume) is the best available fair-value estimate