New Issue: Deutsche Bank prices $3 million fixed-to-floating notes with 4.65% initial rate

By Angela McDaniels

Tacoma, Wash., Sept. 6 – Deutsche Bank AG, London Branch priced $3 million of fixed-to-floating-rate notes due Sept. 8, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is fixed at 4.65% for the first three years. After that, it will be 1.25 times the 10-year U.S. dollar ICE swap rate, subject to a minimum interest rate of zero. Interest is payable quarterly.

The payout at maturity will be par.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Fixed-to-floating-rate notes
Amount:	$3 million
Maturity:	Sept. 8, 2026
Coupon:	4.65% for first three years; after that, 1.25 times 10-year U.S. dollar ICE swap rate, subject to minimum interest rate of zero; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Sept. 1
Settlement date:	Sept. 7
Agent:	Deutsche Bank Securities Inc.
Fees:	1%
Cusip:	25152R6M0

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