Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) today issued Additional Tier 1 (AT1) capital instruments with a total principal amount of € 1.50 billion. The issuance supports Deutsche Bank’s Tier 1 leverage ratio and its Pillar 1 and 2 AT1 solvency requirements.
The securities will bear a fixed coupon of 8.125%, payable annually, until April 30, 2030. The Bank can call the securities, subject to prior supervisory approval, on each day between October 30, 2029 and April 30, 2030, thereafter between October 30 and April 30 of each subsequent year. The applicable interest rate will be reset at five-year intervals starting on April,30, 2030 on the basis of the then prevailing 5-year Euro swap rate plus the initial credit spread of 5.261 % per year.
The new AT1 securities (ISIN: DE000A383JS3) 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.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
Disclaimer
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement.
Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission.
Such factors are described in detail in our SEC Form 20-F of 14 March 2024 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir
