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Deutsche to price callable step-up notes due 2033 with 3% initial rate
By Jennifer Chiou
New York, Jan. 10 - Deutsche Bank AG, London Branch plans to price callable step-up fixed-rate notes due Jan. 31, 2033, according to an FWP with the Securities and Exchange Commission.
The coupon will be 3% for the first 10 years, stepping up to 4% on Jan. 31, 2023 and to 5% on Jan. 31, 2028. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par on Jan. 31, 2018, Jan. 31, 2023 and Jan. 31, 2028.
The notes (Cusip: 25152RUU5) are expected to settle on Jan. 31.
Deutsche Bank Securities Inc. is the agent.
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