Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 3

[marc]

* IPTs MS+625 area for benchmark size. Pricing today. Due 19 May 2031, reset 19 May 2026 (3m par call from 19 Feb 2026), pay 19 May, resets to 5yr MS + spread. EMTN docs, German law, Lux listing, Reg S bearer. Pricing today.

Tasso 5,625% emessa a 99,494

 

[Solitario]

buy xs1984319316 71,20

 

[solovaloreaggiunto]

Bami perp oggi la davano a 59 otc

 

[Ventodivino]

OT
Un estratto del mio paginone di Investing (la parte azionaria USA)
Si vede chiaramente (anche dal colore) che a questo punto ci sono 3 partite : Main Street/Wall Street/ FAAMG.

 

[Fabrib]

Dutch-based insurer Aegon on Tuesday reported worse than expected underlying income due to the impact of coronavirus and falling interest rates in the United States, where it does the bulk of its business.
However, solvency rose to 208%, as the company witheld paying a dividend due to the health crisis.
Underlying pretax income was 366 million euros ($396 million), against 449 million euros in a company-compiled poll.
But solvency was better, against estimates of 199%, due to retaining the dividend, and its net income of 1.27 billion euros was much better than analysts' estimates of 64 million euros, as the value of the company's Dutch liabilities were adjusted sharply lower.
Aegon, which usually reports earnings twice a year, provided the first quarter update due to the increased uncertainty caused by the coronavirus outbreak. There are no comparative figures from a year ago. RTRS

 

[cpandrea]

preso OTC la nuova DB T2 ISIN DE000DL19VB0 a 99.444, ISIN DE000DL19VB0

 

[Solitario]

preso OTC la nuova DB T2 ISIN DE000DL19VB0 a 99.444, ISIN DE000DL19VB0

mi sembra che l'isin sia errato....non trovo

 

[cpandrea]

mi sembra che l'isin sia errato....non trovo

si tratta della nuova DB T2 emessa ieri

 

[samantaao]

si tratta della nuova DB T2 emessa ieri

che taglio ha?
qualcuno ha il prospetto?

 

[cpandrea]

che taglio ha?
qualcuno ha il prospetto?

100k

issuer:
Deutsche Bank AG
Issuer ratings:
A3 (Neg) /BBB+ (Neg)/BBB+ (Neg) (Moody’s / S&P / Fitch)
Exp. Issue Rating:
Ba2/BB+/BB+ (Moody’s S&P / Fitch)
Securities:
Subordinated Tier 2 Notes issued under the Issuer’s EUR 80bn EMTN programme described in the Base Prospectus dated 21 June 2019 and as supplemented
Format:
RegS (bearer form)
Size:
EUR benchmark
IPTs:
ms+625bp area
Pricing:
11 May 2020
Settlement Date:
19 May 2020 (T+6)
Maturity Date:
19 May 2031
Commencement of 3-months par-call period
19 February 2026
Reset Date:
19 May 2026
Status
Tier 2 own funds (within the meaning of CRR); subordinated to the claims of other unsubordinated creditors of the Issuer and, under proposed German legislation implementing Art. 48 (7) BRRD contractually subordinated obligations of the Issuer which do not qualify as own funds
Set-off right:
None
Coupon:
From (and including) the Settlement Date to (but excluding) the Reset Date at a rate of [ ]% p.a.

From (and including) the Reset Date at a rate p.a. of [ ]% above the 5-year-EUR-Midswap-Rate, determined on the second Business Day prior to the Reset Date.
A Rate Replacement provision and customary fallback provisions will apply to the 5-year-EUR-Midswap-Rate.
Interest Payment Dates
Payable annually in arrear on 19 May in each year, commencing on 19 May 2021
Day count convention/Business Days
Act./Act., following unadjusted/TARGET2
Early Redemption
The Issuer may redeem the Securities in whole, but not in part, on any Business Day during the period from 19 February 2026 (inclusive) to the Reset Date (inclusive), with the prior approval of the competent supervisory authority, upon not less than 5 and not more than 60 days' prior notice at the Redemption Amount.
Redemption for Regulatory Reasons:
The Issuer may redeem the Securities in whole, but not in part, at any time, with the prior approval of the competent supervisory authority, upon not less than 5 and not more than 60 days' prior notice at the Redemption Amount, if there is a change in the regulatory classification of the Securities that would be likely to result in (i) their exclusion in full or in part from the Issuer’s own funds under the CRR (other than as a consequence of an amortisation in accordance with Article 64 CRR) or (ii) a reclassification as a lower quality form of the Issuer’s own funds than as of the Issue Date, provided that the conditions in Article 78(4)(a) CRR are met.
Redemption Amount:
100% of Principal Amount at Maturity Date and upon Early Redemption and Redemption for Regulatory Reasons
Resolution Measures:
Prior to any insolvency or liquidation of the Issuer, under bank resolution laws applicable to the Issuer from time to time, the competent resolution authority may write down (including to zero) the obligations of the Issuer under the Securities, convert them into equity (e.g. ordinary shares of the Issuer) or apply any other resolution measure, including (but not limited to) any transfer of such obligations to another entity, an amendment of the Conditions or a cancellation of the Securities.
Target Market:
MiFID II professionals/ECP’s only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
Listing:
On or after the closing date: Luxembourg Stock Exchange (regulated market)
Documentation:
EUR 80,000,000,000 Debt Issuance Programme
Governing Law:
German
LEI:
7LTWFZYICNSX8D621K86
Sole Bookrunner
Deutsche Bank
Co – Lead Group
tbd
Timing
Books open, today's business
Documentation:
The Base Prospectus and any supplements thereto,
are available at DIP Base Prospectuses – Deutsche Bank
Marketing
The Q1 equity and fixed income investor presentation are available at Quarterly Results – Deutsche Bank