Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $12.89 million fixed-to-floaters on SOFR with 7% initial rate
By Wendy Van Sickle
Columbus, Ohio, April 19 – Deutsche Bank AG priced $12.89 million of fixed-to-floating notes due April 19, 2029 tied to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 7% initially. Beginning July 19, 2025, the interest rate will be equal to SOFR plus 100 basis points, subject to a floor of 0.1%. Interest will be payable quarterly.
The payout at maturity will be par.
Deutsche Bank Securities Inc. is the agent.
Issuer: | Deutsche Bank AG
|
Issue: | Fixed-to-floating rate senior debt funding notes
|
Underlying rate: | SOFR
|
Amount: | $12,893,000
|
Maturity: | April 19, 2029
|
Coupon: | 7% initially; beginning July 19, 2025, equal to SOFR plus 100 bps subject to a 0.1% floor; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | April 16
|
Settlement date: | April 19
|
Underwriter: | Deutsche Bank Securities Inc.
|
Fees: | 0.7%
|
Cusip: | 25160YAQ1
|
|
© 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.