The notes will bear a fixed coupon of
7.50%, payable annually, until April 30,
2025, the first date at which the Bank can call the notes. Thereafter the applicable
rate of interest will be reset at five year
intervals on the basis of the then prevailing
5-year USD swap rate plus the initial credit spread of 5.003% per year. The notes
are registered with the U.S. Securities and Exchange Commission.
The securities (ISIN US251525AN16) are expected to be listed on the
Luxembourg Stock Exchange and traded on the Euro MTF market.
The securities will be subject to a write-down provision if Deutsche Bank’s
Common Equity Tier 1 capital ratio (under the phase-in rules) falls below 5.125%
and be subject to other loss absorption features pursuant to the applicable capital
rules. The denominations of the notes ar
e USD 200,000. Deutsche Bank acted as
sole bookrunner for the offering.
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