New Issue: Deutsche Bank upsizes callable step-up notes with 2.125% initial rate to $925,000

By Marisa Wong

Madison, Wis., Feb. 20 - Deutsche Bank AG, London Branch priced an additional $425,000 of callable step-up fixed-rate notes due Feb. 21, 2033, according to a 424B3 filing with the Securities and Exchange Commission.

This brings the total deal size to $925,000. The initial $500,000 of notes priced on Feb. 5.

The coupon will be 2.125% for the first six years. After that, the rate will step up to 3% through year eight and to 4% after that. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on Feb. 21, 2019.

Deutsche Bank Securities Inc. is the underwriter.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Callable step-up fixed-rate notes
Amount:	$925,000, upsized from $500,000
Maturity:	Feb. 21, 2033
Coupon:	2.125% initially, stepping up to 3% on Feb. 21, 2019 and to 4% on Feb. 21, 2021; payable semiannually
Price:	Variable
Call option:	At par on Feb. 21, 2019
Payout at maturity:	Par
Pricing dates:	Feb. 5 for $500,000, Feb. 15 for $425,000
Settlement date:	Feb. 21
Agent:	Deutsche Bank Securities Inc.
Fees:	2.5%
Cusip:	25152RUW1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.