What is this vintage German bracelet?

by Awmuuuuuur

Hello Reddit,

So, my great grandfather was from Germany. He came to America in 1928, but returned to Germany with his American wife and child to visit family and friends in 1937. From what I have been told, while visiting Germany in 1937, he found a bracelet on the ground. For a couple weeks I have been trying to figure out what exactly the bracelet is and what it means, but I have found no info, which is why I have turned to Reddit. As you can see, the bracelet is not heavily tarnished, and spells out Deutschland, which is German for Germany. The blue and white symbol on the left has a crest that is actually more of a bronze color that the pictures show. Also, I can't tell weather one of the letters in the crest of the blue and white symbol is an N or an H. Im excited as to what I find out about the bracelet! Phtots: http://imgur.com/a/1rMs2

SonderZugNachPankow

https://en.wikipedia.org/wiki/Hamburg_America_Line

I assume Deutschland is referring to the ship SS Deutschland which traveled that line.