New Issue: Deutsche prices $4.27 million fixed-to-floaters due 2027 on SOFR

By Wendy Van Sickle

Columbus, Ohio, Feb. 23 – Deutsche Bank AG priced $4.27 million of fixed-to-floating notes due Aug. 23, 2027 tied to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 7% initially. Beginning Nov. 23, 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
Issue:	Fixed-to-floating notes
Underlying rate:	SOFR
Amount:	$4,268,000
Maturity:	Aug. 23, 2027
Coupon:	7% initially; beginning Nov. 23, 2024, equal to SOFR plus 100 bps subject to a 0.1% floor; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	Non-callable
Pricing date:	Feb. 16
Settlement date:	Feb. 23
Underwriter:	Deutsche Bank Securities Inc.
Fees:	0.65%
Cusip:	25160YAR9

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