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Deutsche Bank plans to price fixed-to-floaters with 3% initial rate
By Marisa Wong
Madison, Wis., Dec. 7 - Deutsche Bank AG, London Branch plans to price fixed-to-floating notes due Dec. 28, 2020, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 3% for the first year. After that, it will be Libor plus 30 basis points, subject to a maximum interest rate of 6%. Interest is payable quarterly.
The payout at maturity will be par.
The notes (Cusip: 2515A1PJ4) are expected to settle Dec. 28.
Deutsche Bank Securities Inc. is the agent.
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