Deutsche Bank AG/New York NY
Indicative
Full Lot
Indicative price as of 06 Nov 2026, 4:03pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Deutsche Bank AG/New York NY
Guarantor
-
Announcement Date
15 Nov 2023
Issue Date
20 Nov 2023
Maturity Date
20 Nov 2029
Years to Maturity / Next Call
3.037 / 2.037
Modified Duration
2.631 @ 06 Nov 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.819
Coupon Type
Variable
Annual Coupon Rate
6.819
Coupon Frequency
Semi Annually
Seniority
Senior Non Preferred
Capital Structure
Senior Non Preferred
Reference Rate
Reset Date: 20 November 2028 and every quarter thereafter
Reset Rate: Compounded SOFR + Initial Margin (2.510%)
ISIN
US251526CU14
CUSIP
251526CU1
Bond Currency
USD
Total Issue Size
1,500,000,000
Min. Investment Quantity (Nominal)
USD 150,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ A-
Shariah Compliant
No
Exchange Listed
Others
Resolution Measures And Deemed Agreement
By acquiring the notes, you will be bound by and will be deemed irrevocably to consent to the provisions set forth in the accompanying prospectus, which we have summarized below. Under the relevant resolution laws and regulations as applicable to us from time to time, the notes may be subject to the powers exercised by the competent resolution authority to: (i) write down, including to zero, any payment on the notes; (ii) convert the notes into ordinary shares of (a) the Issuer, (b) any group entity or (c) any bridge bank or other instruments of ownership of such entities qualifying as common equity tier 1 capital (and the issue to or conferral on the holders (including the beneficial owners) of such ordinary shares or instruments); and/or (iii) apply any other resolution measure including, but not limited to, any transfer of the notes to another entity, the amendment, modification or variation of the terms and conditions of the notes or the cancellation of the notes. The write-down and conversion powers are commonly referred to as the “bail-in tool” and the bail-in tool and each of the other resolution measures are hereinafter referred to as a “Resolution Measure.” A “group entity” refers to an entity that is included in the corporate group subject to a Resolution Measure. A “bridge bank” refers to a newly chartered German bank that would receive some or all of our equity securities, assets, liabilities and material contracts, including those attributable to our branches and subsidiaries, in a resolution proceeding.
Please see “Resolution Measures” end on page 52 in the accompanying prospectus and “Resolution Measures and Deemed Agreement” on page PS–3 of this pricing supplement for more information.
We have the right to redeem the notes in our sole discretion in whole, but not in part, at 100% of the Principal Amount together with any accrued but unpaid interest on November 20, 2028 (the “Reset Date”) by giving not less than 5 Business Days’ prior notice. If the scheduled Reset Date is not a Business Day, it will be postponed to the following Business Day. Any redemption of the notes prior to the scheduled maturity will be subject to (i) receipt by the Issuer of approval of the competent resolution authority and (ii) compliance with any other regulatory requirements. If the notes are redeemed by us without the prior approval of such competent resolution authority, then the amounts paid on the notes must be returned to us irrespective of any agreement to the contrary.
Cash Flow Information