Deutsche Bank AG is issuing $1,000,000 of 5.25% Fixed Rate Callable Senior Debt Funding Notes due July 17, 2036. The notes pay 5.25% per year, with interest paid annually each July 17 starting in 2027, and are sold at 100% of their $1,000 principal amount per note.
The issuer may, in its sole discretion and subject to regulatory approval, redeem all (but not part) of the notes at 100% of principal plus accrued interest on any January 17 or July 17 from 2028 through 2036. The notes are unsecured senior preferred obligations ranking ahead of Deutsche Bank’s senior non-preferred debt but behind certain deposits, and are not insured by the FDIC or any government agency.
Holders are expressly subject to European bank resolution powers, including bail-in tools that can write down payments to zero, convert the notes into equity, transfer or amend them, or cancel them entirely. Such measures, or insolvency, can cause investors to lose some or all of their investment and do not constitute an event of default. Events of default are limited to the opening of German insolvency proceedings, and holders generally have no right to accelerate payment for missed interest or principal. The notes will not be listed on any exchange, and secondary market liquidity and pricing are uncertain. Net proceeds of $980,000 will be used for general corporate purposes.
Deutsche Bank AG is offering $1,000,000 principal amount of 5.35% Fixed Rate Callable Senior Debt Funding Notes due July 17, 2038. The notes are issued at 100% of principal, pay a fixed coupon of 5.35% per annum on each July 17 from 2027 to maturity, using an unadjusted 30/360 day count convention.
The issuer may, in its sole discretion and subject to regulatory approval, redeem the notes in whole at par plus accrued interest on each January 17 and July 17 from July 17, 2028 to January 17, 2038. Under EU and German resolution rules, the notes are subject to “Resolution Measures,” including write-down to zero, conversion into equity, transfer or amendment, and such actions will not constitute an event of default. Investors waive certain rights against the trustee and have no acceleration right for payment defaults; the only event of default is the opening of German insolvency proceedings. The notes are unsecured, senior preferred obligations ranking ahead of Deutsche Bank’s senior non‑preferred debt, are not insured by the FDIC, are not listed on any exchange, and are sold through affiliate Deutsche Bank Securities Inc., which receives $20,000 in underwriting discounts, leaving $980,000 in proceeds to Deutsche Bank for general corporate purposes.
Deutsche Bank AG is offering $1,000,000 of 5.60% Fixed Rate Callable Senior Debt Funding Notes due July 17, 2046. The notes pay 5.60% per annum, with interest paid annually each July 17 starting in 2027, using an unadjusted 30/360 day-count convention.
The notes are issued at 100% of principal, in $1,000 denominations. Deutsche Bank may redeem them in whole, at its option, at 100% of principal plus accrued interest on each January 17 and July 17 from July 17, 2029 to January 17, 2046, subject to regulatory approval and at least five business days’ notice.
The obligations are unsecured, unsubordinated “senior preferred” debt that rank ahead of the bank’s senior non-preferred instruments but remain subject to European “Resolution Measures.” Investors irrevocably consent to potential bail-in actions, including write-down to zero or conversion into equity, which would not constitute an event of default and could result in losing some or all invested principal. There is no FDIC insurance and acceleration rights are very limited.
Deutsche Bank AG is offering 5.05% Fixed Rate Callable Senior Debt Funding Notes due July 31, 2032 at 100% of the $1,000 principal amount, in minimum denominations of $1,000. Interest is paid annually in arrears each July 31, starting July 31, 2027, on a 30/360 basis.
The notes are callable at par plus accrued interest at Deutsche Bank’s option, in whole but not in part, on each January 31 and July 31 from July 31, 2027 through January 31, 2032, subject to regulatory approval. They are unsecured, unsubordinated “senior preferred” obligations that rank ahead of the bank’s senior non‑preferred debt but behind covered deposits and certain other senior liabilities.
Per note economics show a $1,000 price to the public, a $30 selling concession to Deutsche Bank Securities Inc. (DBSI) and $970 in proceeds to the issuer, with net proceeds used for general corporate purposes and potential hedging. The notes include extensive “Resolution Measure” bail‑in language: a competent EU resolution authority may write down payments (including to zero), convert the notes into equity, or transfer or amend them if Deutsche Bank is deemed non‑viable, without this constituting an event of default. Holders waive related claims against the trustee and cannot accelerate for payment defaults; acceleration is limited to German insolvency proceedings.
The notes are not deposits, are not FDIC‑insured, are not listed on any exchange, and secondary trading may be limited, so sales before maturity could lead to substantial losses. Offers exclude EEA and UK retail investors due to PRIIPs and UK product disclosure rules, and DBSI, an affiliate, acts as underwriter under FINRA Rule 5121 conflicts‑of‑interest provisions.
Deutsche Bank AG is offering 6.00% Fixed Rate Callable Senior Debt Funding Notes due July 31, 2051 at 100% of the $1,000 principal amount per note. The notes pay fixed interest of 6.00% per annum, payable annually each July 31 under a 30/360 day-count convention.
Beginning July 31, 2028, Deutsche Bank may, in its sole discretion and subject to regulatory approval, redeem the notes in whole at par plus accrued interest on each January 31 and July 31. The notes are unsecured, unsubordinated “senior preferred” obligations, rank ahead of the bank’s senior non-preferred debt, are not insured, and will not be listed on any exchange.
A key feature is the European “Resolution Measure” regime: if the bank becomes non‑viable, the competent resolution authority may write down payments (including to zero), convert the notes into equity of Deutsche Bank or a group or bridge entity, or otherwise amend, transfer or cancel the notes, without this constituting a default. Holders waive certain rights to challenge such actions and have limited acceleration and enforcement remedies. Net proceeds are intended for general corporate purposes.
Deutsche Bank AG is offering 5.35% Fixed Rate Callable Senior Debt Funding Notes due July 31, 2034. Each note has a $1,000 principal amount and is issued at 100% of face value, with fixed interest of 5.35% per annum paid annually on July 31, starting July 31, 2027.
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. They are callable at Deutsche Bank’s option at 100% of principal plus accrued interest on each January 31 and July 31 from January 31, 2028 to January 31, 2034, subject to regulatory approval. Holders are expressly subject to European bank Resolution Measures, including the “bail‑in” power to write down payments or convert the notes into equity; such action is not a default and may result in a partial or total loss. Events of default are limited to the opening of German insolvency proceedings, with no acceleration right for missed payments. The notes are not insured by the FDIC, will not be listed on any exchange, and net proceeds will be used for general corporate purposes.
Deutsche Bank AG is offering 5.10% Fixed Rate Callable Senior Debt Funding Notes due July 31, 2031, each with a $1,000 principal amount and Issue Price of 100.00%. The notes pay fixed interest of 5.10% per annum, annually in arrears each July 31 from 2027 until maturity or earlier redemption.
The issuer may, in its sole discretion and subject to regulatory approval, redeem the notes in whole at 100% of principal plus accrued interest on any optional redemption date, semi-annually each January 31 and July 31 from 2027 through January 31, 2031. The notes are unsecured, unsubordinated “senior preferred” obligations ranking ahead of Deutsche Bank’s senior non-preferred debt but behind certain protected deposits and are not insured by any government agency. They are subject to European banking Resolution Measures, including “bail-in” powers that can write down payments to zero, convert the notes into equity, or amend or cancel their terms without constituting an event of default, so holders can lose some or all of their investment. Per note, the public price is $1,000.00, underwriting discounts and commissions are $30.00, and proceeds to Deutsche Bank are $970.00, to be used for general corporate purposes. The notes are not listed on any exchange and are not intended for retail investors in the EEA or UK.
Deutsche Bank AG is offering unsecured, fixed-rate callable senior notes due July 31, 2036 under its Senior Debt Funding Notes, Series E program. Each note has a $1,000 principal amount, is priced at 100%, and pays fixed interest of 5.45% per annum, paid annually on July 31, starting in 2027, using a 30/360 day-count convention.
The issuer may, in its sole discretion and subject to regulatory approval, redeem the notes in whole (but not in part) at 100% of principal plus accrued interest on optional redemption dates every January 31 and July 31 from July 31, 2030 through January 31, 2036. The notes are not listed on any exchange and are not deposits or savings accounts, nor insured by the FDIC or any government agency.
Investors are deemed to consent to potential EU “Resolution Measures,” including write-down of payments (to zero), conversion into equity of Deutsche Bank, a group entity or a bridge bank, transfer, amendment or cancellation of the notes. Such actions would not constitute an event of default, and payment failures due to a Resolution Measure cannot be enforced or accelerated, meaning holders could lose some or all of their investment. The notes rank as unsecured, unsubordinated “senior preferred” obligations, ahead of Deutsche Bank’s senior non-preferred instruments but behind certain deposits. Per note, the public pays $1,000, DBSI receives a $40 underwriting discount, and Deutsche Bank receives $960 in proceeds, to be used for general corporate purposes.
Deutsche Bank AG is offering unsecured, unsubordinated 5.10% Fixed Rate Senior Debt Funding Notes due July 31, 2036. The notes pay fixed interest of 5.10% per annum, calculated on a 30/360 basis and paid annually in arrears each July 31 from 2027 through maturity. They are issued in registered form in minimum denominations of $1,000 at 100% of principal, are not insured by any governmental agency, and will not be listed on any securities exchange.
The notes rank as senior preferred obligations, ahead of Deutsche Bank’s senior non-preferred debt but behind certain deposits, and are subject to European resolution measures. The competent resolution authority may write down payments to zero, convert the notes into equity, transfer or amend them, or cancel them entirely, without this constituting an event of default. Holders have no right to accelerate payment for missed interest or principal, and may lose some or all of their investment if insolvency or a resolution measure occurs. Deutsche Bank Securities Inc., an affiliate, will distribute the notes, receiving $40 in discounts and commissions and leaving issuer proceeds of $960 per $1,000 note, to be used for general corporate purposes.
Deutsche Bank AG filed a Form 6-K summarizing that it published a separate document with key updates for 2Q 2026 and incorporating that material into an existing U.S. registration statement.
The report explains that Deutsche Bank’s financial targets and capital objectives are based on results prepared under EU IFRS, which include the so‑called EU carve-out. This allows portfolio fair value hedge accounting for certain non-maturing deposits and fixed-rate mortgages with prepayment options, aiming to reduce revenue volatility from Treasury activities. For U.S. reporting, the bank also prepares versions of some reports under IASB IFRS, which do not permit this carve-out.
The document outlines several non‑GAAP financial measures the bank uses, such as adjusted net interest income, currency‑adjusted revenues and costs, tangible shareholders’ equity, and related return and per‑share metrics, and points readers to prior filings for full definitions and reconciliations. It also emphasizes that both forward‑looking statements and forward‑looking non‑GAAP measures involve risks and uncertainties described in the bank’s 2025 Annual Report on Form 20‑F.