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Additional Tier 1 (AT1) SEC November 2014
In November 2014 Deutsche Bank AG issued undated Additional Tier 1 Notes with a principal amount of USD 1.5 billion (EUR 1.2 bn equivalent).
The notes bear a fixed coupon of 7.50%, payable annually, until April 30, 2025, the first date at which the Bank can call the notes. Thereafter the applicable rate of interest will be reset at five year intervals on the basis of the then prevailing 5-year USD swap rate plus the initial credit spread of 5.003% per year. The notes are registered with the U.S. Securities and Exchange Commission.
The securities (ISIN US251525AN16) are listed on the Luxembourg Stock Exchange and traded on the Euro MTF market.
The securities will be subject to a write-down provision if Deutsche Bank’s Common Equity Tier 1 capital ratio (under the phase-in rules) falls below 5.125% and be subject to other loss absorption features pursuant to the applicable capital rules. The denominations of the notes are USD 200,000. Deutsche Bank acted as sole bookrunner for the offering.
|November 20, 2014||Prospectus Supplement ISIN US251525AN16|
|November 19, 2014||IR Release: Deutsche Bank successfully completes issuance of Additional Tier 1 capital|
|November 17, 2014||IR Release: Deutsche Bank undertakes further issuance of Additional Tier 1 capital|
|November 12, 2014||Presentation Fixed Income Roadshow/ AT1 Update|