Deutsche Bank to price callable step-up notes with 3% initial rate

By Toni Weeks

San Diego, June 15 - Deutsche Bank AG, London Branch plans to price callable step-up fixed-rate notes due June 29, 2032, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 3% for the first 10 years. It will step up to 4% on June 29, 2022 and to 5% on June 29, 2027. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date after one year.

The notes (Cusip: 25152CQA7) are expected to price June 26 and settle June 29.

Deutsche Bank Securities Inc. is the underwriter.

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