Deutsche Bank plans callable step-up notes due 2024 with 2.25% initial rate

By Susanna Moon

Chicago, Oct. 3 - Deutsche Bank AG, London Branch plans to price callable step-up fixed-rate notes due Oct. 31, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2.25% for the first five years, stepping up to 2.5% on Oct. 31, 2017, to 3% on Oct. 31, 2020 and to 4% on Oct. 31, 2022. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning Oct. 31, 2013.

Deutsche Bank Securities Inc. is the agent.

The notes will price on Oct. 26 and settle on Oct. 31.

The Cusip number is 2515A1PF2.

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