Bond Factsheet
DB 7.500% Perpetual Corp (USD)
Deutsche Bank AG
Indicative
Full Lot
Bid Price 100.019
Change in Bid Price 0.072
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.193
Change in Ask Price 0.100
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 30 Apr 2025, 12:00am
Bond Issuer
Deutsche Bank AG
Guarantor
-
Announcement Date
18 Nov 2014
Issue Date
21 Nov 2014
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 3.579
Modified Duration
-
Issue / Reoffer Price
100.065
Issue / Reoffer Yield
7.811
Coupon Type
Variable
Annual Coupon Rate
7.500
Coupon Frequency
Annually
Seniority
Junior Subordinated
Capital Structure
Junior Subordinated
Reference Rate
Reset Date: 30 Apr 2025 & every 5 Yrs thereafter
Reset Rate: USD SOFR Spread-Adj. ICE Swap Rate 5Y + Initial spread (5.003%)
ISIN
US251525AN16
CUSIP
251525AN1
Bond Currency
USD
Total Issue Size
1,500,000,000
Min. Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 200,000
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ A-
Bond Credit Rating (S&P/ Fitch)
***/ BB+
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Upon the occurrence of a Trigger Event, the redemption amount and the nominal amount of the Notes will be reduced by the amount of the relevant write-down (as further described below).
A "Trigger Event" will occur if, at any time, our Common Equity Tier 1 Capital Ratio falls below 5.125 per cent.
Upon the occurrence of a Trigger Event, a write-down will be effected pro rata with all other Additional Tier 1 instruments within the meaning of the CRR (Additional Tier 1 capital), the terms of which provide for a write-down (whether permanent or temporary) upon the occurrence of the Trigger Event. For such purpose, the total amount of the write-downs to beballocated pro rata will be equal to the amount required to restore fully our Common Equity Tier 1 Capital Ratio to 5.125 per cent. but will not exceed the sum of the nominal amounts of the relevant instruments outstanding at the time of occurrence of the Trigger Event.
Deferral Interest Payment
The Issuer has the right, in their sole discretion, to cancel all or part of any payment of interest, including (but not limited to) if such cancellation is necessary to prevent our Common Equity Tier 1 capital ratio pursuant to Article 92 (1) (a) CRR or any successor provision, determined on a consolidated basis (which we refer to as our "Common Equity Tier 1 Capital Ratio") from falling below 5.125 per cent. or to meet a requirement imposed by law or our competent supervisory authority. If we make use of such right, we will give notice to the holders in accordance with the Capital Securities Indenture without undue delay, but no later than on the relevant Interest Payment Date.
Interest that is cancelled will not be due and will not accumulate or be payable at any time thereafter. The Issuer has the sole and absolute discretion at all times and for any reason to cancel (in whole or in part) any interest payment that would otherwise be payable on any Interest Payment Date, and interest payments may be restricted or prohibited in other circumstances.
Mandatory Cancellation of Interest Payments
In addition to the Issuer’s right to cancel (in whole or in part) interest payments at any time, the terms of the Notes also restrict the Issuer from making interest payments on the Notes in certain circumstances described below, in which case, such interest will be cancelled. Interest that is cancelled will not be due and will not accumulate or be payable at any time thereafter, and you will have no rights thereto.
Issuer Call
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