By Cristal Cody
Chicago, Nov. 10 – Deutsche Bank AG, New York Branch sold $2.1 billion of notes in two parts on Wednesday, according to a market source.
The company sold $300 million of six-year floating-rate notes at par to yield SOFR plus 50 basis points. The larger tranche came as $1.8 billion of fixed-to-floating-rate notes due Nov. 16, 2027 that start with a 2.311% fixed rate. The notes priced at par for a spread of 110 bps over Treasuries. Initial price talk was in the Treasuries plus 135 bps area.
The notes reset Nov. 16, 2026 to SOFR plus 121.9 bps.
Demand for the issue was recorded at $4.9 billion for both tranches in terms of a final book size.
Deutsche Bank may call the tranches in whole, but not in part, on Nov. 16, 2026 at par plus all interest payments.
Deutsche Bank Securities Inc. is the bookrunner of the transactions.
The banking and financial services company is based in Frankfurt.
| Issuer: | Deutsche Bank AG, New York Branch
|
| Issue: | Notes
|
| Amount: | $2.1 billion
|
| Bookrunners: | Deutsche Bank Securities Inc.
|
| Trade date: | Nov. 10
|
|
|
| Floating-rate notes
|
| Issue: | Floating-rate notes
|
| Amount: | $300 million
|
| Maturity: | Nov. 16, 2027
|
| Coupon: | SOFR plus 50 bps
|
| Price: | Par
|
| Yield: | SOFR plus 50 bps
|
| Call features: | Starting Nov. 16, 2026 at par plus interest
|
|
|
| Fixed-to-floating-rate notes
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $1.8 billion
|
| Maturity: | Nov. 16, 2027
|
| Coupon: | 2.311% starting rate; resets Nov. 16, 2026 to SOFR plus 121.9 bps
|
| Price: | Par
|
| Yield: | 2.311%
|
| Spread: | Treasuries plus 110 bps
|
| Call features: | Starting Nov. 16, 2026 at par plus interest
|
| Price talk: | Treasuries plus 135 bps area
|
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