New Issue: Deutsche Bank prices $657,000 callable step-up notes due 2030 with 3% initial rate

By Jennifer Chiou

New York, July 30 - Deutsche Bank AG, London Branch priced $657,000 of callable step-up fixed-rate notes due July 31, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3% for the first 10 years. It will step up to 3.125% on July 31, 2022, to 3.25% on July 31, 2024, to 4% on July 31, 2026 and to 5% on July 31, 2028. 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.

Deutsche Bank Securities Inc. is the underwriter.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Callable step-up fixed-rate notes
Amount:	$657,000
Maturity:	July 31, 2030
Coupon:	3% initially, stepping up to 3.125% on July 31, 2022, to 3.25% on July 31, 2024, to 4% on July 31, 2026 and to 5% on July 31, 2028; payable semiannually
Price:	Par
Call option:	At par on any interest payment date beginning on July 31, 2013
Payout at maturity:	Par
Pricing date:	July 26
Settlement date:	July 31
Agent:	Deutsche Bank Securities Inc.
Fees:	2.5%
Cusip:	25152CQB5

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