Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) today placed Additional Tier 1 (AT1) capital instruments with a total principal amount of €1.25 billion. The issuance supports Deutsche Bank's leverage ratio and its Tier 1 and Total Capital solvency ratios.
The securities will bear a fixed coupon of 7.000%, payable semi-annually, until 30 April 2034. The Bank can call the securities, subject to prior supervisory approval, on each day between 30 October and 30 April of the following year, starting on 30 October 2033, thereafter every five years. The applicable interest rate will be reset at five-year intervals starting on 30 April 2034 on the basis of the then prevailing 5-year Euro swap rate plus the initial credit spread of 3.656% per year.
The new AT1 securities (ISIN: DE000A5GS6T9) are expected to be listed on the Luxembourg Stock Exchange and traded on its regulated market.
The denominations of the securities are € 200,000. Deutsche Bank AG acted as sole bookrunner for the offering.
The securities of Deutsche Bank AG mentioned in this release have not been registered under the Securities Act of 1933, as amended ("Securities Act") and will be issued under "Regulation S" of the Securities Act only and may not be offered, sold or delivered within the United States absent registration under the Securities Act or an exemption from registration requirements.