By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – Deutsche Bank AG priced $4.45 million of fixed-to-floating notes due July 31, 2027 tied to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 7% initially. Beginning July 31, 2024, the interest rate will be equal to SOFR plus 100 basis points subject to the minimum interest rate of 0.1%. Interest will be payable quarterly.
The payout at maturity will be par.
Deutsche Bank Securities Inc. is the agent.
Issuer: | Deutsche Bank AG
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Issue: | Fixed-to-floating notes
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Underlying rate: | SOFR
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Amount: | $4.45 million
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Maturity: | July 31, 2027
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Coupon: | 7% initially; beginning July 31, 2024, equal to SOFR plus 100 bps subject to a 0.1% floor; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | Non-callable
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Pricing date: | Jan. 25
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Settlement date: | Jan. 31
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Underwriter: | Deutsche Bank Securities Inc.
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Fees: | 0.45%
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Cusip: | 25160YAL2
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