Deutsche Bank AG is offering 5.25% Fixed Rate Callable Senior Debt Funding Notes due January 12, 2036. The notes pay interest at 5.25% per annum, calculated on a 30/360 basis and paid semi-annually each January 12 and July 12, starting July 12, 2026.
The notes are unsecured, unsubordinated "senior preferred" obligations that rank ahead of the bank’s senior non-preferred debt but behind certain protected deposits and other higher-ranking liabilities. They are callable at the issuer’s option at 100% of principal, plus accrued interest, on semi-annual optional redemption dates from January 12, 2027 through July 12, 2035, subject to regulatory approval.
Investors are deemed to consent to potential Resolution Measures, including write-down or conversion of the notes into equity if the bank is deemed non-viable, which could lead to partial or total loss. The notes are not insured by the FDIC, will not be listed on any exchange, are issued in $1,000 minimum denominations, and proceeds will be used for general corporate purposes.
Deutsche Bank AG is offering 5.00% Fixed Rate Callable Senior Debt Funding Notes due July 29, 2035. The notes pay a fixed interest rate of 5.00% per annum, with interest paid annually in arrears each January 29 starting in 2027, and on the maturity date, using a 30/360 day count convention.
The notes are unsecured, unsubordinated "senior preferred" obligations ranking ahead of the bank’s senior non-preferred debt but behind certain deposits. Deutsche Bank may redeem the notes at its option at 100% of principal plus accrued interest on any January 29 or July 29 from July 29, 2027 to January 29, 2035, subject to regulatory approval. The price to the public is $1,000 per note, with DBSI receiving a $40 discount and Deutsche Bank receiving $960 in proceeds per note before expenses. Investors accept broad "Resolution Measure" powers, including potential write-down or conversion to equity, and have limited acceleration and enforcement rights, meaning they could lose some or all of their investment.
Deutsche Bank AG is offering 5.50% Fixed Rate Callable Senior Debt Funding Notes due January 23, 2051. The notes pay fixed interest of 5.50% per annum, calculated on a 30/360 basis and paid annually in arrears each January 23, beginning January 23, 2027.
The notes are senior unsecured, rank ahead of the bank’s senior non-preferred debt and are intended to qualify as eligible liabilities under EU capital rules. Deutsche Bank may redeem them at its option at 100% of principal plus accrued interest on any January 23 or July 23 from January 23, 2030 through July 23, 2050. Investors are explicitly subject to EU “Resolution Measures,” including bail-in, which can write down payments or convert the notes to equity, and these outcomes do not constitute an event of default, meaning holders may lose some or all of their investment. The notes are not FDIC-insured and will not be listed on any securities exchange.
Deutsche Bank AG is offering 4.30% Fixed Rate Callable Senior Debt Funding Notes due January 23, 2031. The notes are issued at 100% of principal, in $1,000 denominations, and pay 4.30% annual interest each January 23, starting in 2027.
Deutsche Bank may redeem the notes at its option at 100% of principal plus accrued interest on semi-annual call dates every January 23 and July 23 from 2027 through July 23, 2030, subject to regulatory approval. The notes are unsecured, unsubordinated "senior preferred" obligations that rank ahead of the bank’s senior non-preferred debt but behind certain deposits and other higher-ranking liabilities.
Investors explicitly accept potential EU resolution “bail-in” powers: regulators can write down payments on the notes, convert them into equity or transfer or amend them, and such actions are not events of default. There is no right to accelerate payment for missed interest or principal other than upon German insolvency proceedings. The notes are not FDIC insured, will not be listed on an exchange, and are intended for non-retail investors in the EEA and UK.
Deutsche Bank AG is offering unsecured senior preferred Market Linked Notes tied to an unequally weighted basket of five equity indices: the EURO STOXX 50®, Nikkei 225, FTSE® 100, Swiss Market Index and S&P/ASX 200. The basket weights range from 40.00% for the EURO STOXX 50® to 7.50% for the S&P/ASX 200, with an Initial Basket Value of 100.00.
The Notes have a term of approximately 5 years, with a Trade Date of January 16, 2026 and a Maturity Date of January 21, 2031. Each Note has a Face Amount and issue price of $1,000, with $35 in discounts and commissions and $965 in proceeds to the issuer per Note. If the Basket Return is positive, investors receive $1,000 plus the Basket Return multiplied by a Participation Rate set between 110.00% and 115.00%. If the Basket Return is zero or negative, only the $1,000 Face Amount is repaid at maturity.
The issuer’s estimated value on the Trade Date is approximately $910.00 to $960.00 per $1,000.00, below the issue price, reflecting commissions and hedging costs. The Notes pay no interest or dividends, will not be listed on an exchange, and are subject to Deutsche Bank’s credit risk and potential “Resolution Measures,” including write-down or conversion, so investors could lose some or all of their investment.
Deutsche Bank Aktiengesellschaft filed a Form 6-K summarizing information it shared with the market during 4Q 2025. The filing notes that Exhibit 99.1 contains key updates for the quarter, prepared using International Financial Reporting Standards as endorsed by the EU, including the so‑called EU carve-out for portfolio fair value hedge accounting. It explains that these EU IFRS figures underpin Deutsche Bank’s financial targets and capital objectives, while certain U.S. reports, such as its 2024 Form 20‑F, use IFRS as issued by the IASB, which does not allow that carve-out.
The report also highlights Deutsche Bank’s use of various non‑GAAP financial measures, such as adjusted costs, net assets (adjusted) and tangible shareholders’ equity, and points readers to prior disclosures for detailed definitions and reconciliations. An English translation of the most recently amended Articles of Association is attached as Exhibit 99.2, and the entire report is incorporated by reference into an existing registration statement.
Deutsche Bank AG is offering 5.50% Fixed Rate Callable Senior Debt Funding Notes due January 20, 2041, at an issue price of 100% of the $1,000 principal amount per note. Interest is paid annually in arrears each January 20, starting in 2027, based on a 30/360 day count convention.
The notes are unsecured, unsubordinated “senior preferred” obligations that rank ahead of the bank’s senior non-preferred debt but behind certain deposits and other higher-ranking liabilities in insolvency or resolution. Deutsche Bank may redeem the notes at its sole discretion, in whole but not in part, at 100% of principal plus accrued interest on semi-annual optional redemption dates each January 20 and July 20 from January 20, 2027 through July 20, 2040, subject to regulatory approval.
Investors are deemed to consent to EU “Resolution Measures,” including potential write-down or conversion of the notes to equity, which may result in partial or total loss and will not constitute an event of default. There is no acceleration right for payment defaults, other than upon German insolvency proceedings. The notes will not be listed, are not insured by the FDIC, and are intended for institutional and professional investors, with sales to EEA and UK retail investors prohibited.
Deutsche Bank AG is issuing $6,500,000 of 5.15% fixed-rate senior debt funding notes due December 31, 2035. The notes are priced at 100% of principal in minimum denominations of $1,000, pay interest annually in arrears each December 31 starting in 2026, and are callable at the bank’s option at 100% of principal plus accrued interest on semiannual call dates from December 31, 2029 through June 30, 2035, subject to regulatory approval.
The notes are unsecured, unsubordinated "senior preferred" obligations that rank ahead of the bank’s senior non-preferred debt but behind certain higher-ranking liabilities such as covered deposits. They are subject to EU bank resolution powers, meaning a resolution authority can write down payments, convert the notes into equity, amend terms or cancel them entirely, without this constituting an event of default, so investors may lose some or all of their investment.
There is no right of acceleration for payment or covenant defaults; the sole event of default is the opening of German insolvency proceedings. The notes are not FDIC-insured, will not be listed on any exchange, and net proceeds of approximately $6,450,750 will be used for general corporate purposes.
Deutsche Bank AG is offering $7,200,000 of 5.75% Fixed Rate Callable Senior Debt Funding Notes due December 31, 2045. The notes pay 5.75% interest per year, with payments made annually each December 31 starting in 2026, using a 30/360 day count convention.
Deutsche Bank can redeem the notes early, in whole but not in part, at 100% of principal plus accrued interest on semiannual optional redemption dates from December 31, 2027 through June 30, 2045, subject to regulatory approval. The notes are unsecured, unsubordinated obligations that rank ahead of the bank’s senior non-preferred debt but behind certain deposits and other higher-ranking liabilities in an insolvency or resolution.
Because of EU “Resolution Measures” rules, a resolution authority may write down payments on the notes, convert them into shares or transfer or amend them if Deutsche Bank becomes non-viable, and this would not be treated as an event of default. Investors have limited acceleration rights, must hold to maturity to be sure of principal repayment, and face potential loss of some or all of their investment.
Deutsche Bank AG is offering $5,859,000 of 5.45% Fixed Rate Callable Senior Debt Funding Notes due December 31, 2045. The notes pay 5.45% annual interest, starting December 31, 2026, under a 30/360 day-count and are issued at $1,000 per note.
Deutsche Bank may redeem the notes at its option at 100% of principal plus accrued interest on each June 30 and December 31 from December 31, 2028 through June 30, 2045, subject to regulatory approval. The notes are unsecured, unsubordinated “senior preferred” obligations and are not insured by any government agency.
Investors expressly consent to EU bank “Resolution Measures,” including possible write-down to zero, conversion into equity, or other changes, which means holders may lose some or all of their investment without a payment default. There is no right of acceleration for payment defaults, and the notes will not be listed on any securities exchange. Net proceeds of $5,702,550 are for general corporate purposes.