Deutsche Bank AG is issuing $3,127,000 of 5.00% Fixed Rate Callable Senior Debt Funding Notes due November 28, 2035. The notes pay 5.00% interest per year, with payments made annually each November 28, starting in 2026, and are issued at 100% of principal in $1,000 denominations. Deutsche Bank may redeem the notes early at 100% of principal plus accrued interest on optional redemption dates every May 28 and November 28 from 2029 through May 2035, 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. They are subject to European “Resolution Measures,” meaning a regulator can write down payments, convert the notes into equity, amend terms, or cancel them entirely if the bank is deemed non-viable, without this counting as an event of default. Investors have limited acceleration rights, and must generally hold to maturity to be sure of full principal repayment.
Deutsche Bank AG is offering $2,000,000 of 5.25% Fixed Rate Callable Senior Debt Funding Notes due November 28, 2035. The notes pay 5.25% interest per year, with payments each November 28 starting in 2026, using a 30/360 day count convention.
Deutsche Bank may redeem the notes at its option at 100% of principal on each May 28 and November 28 from 2027 to 2035, plus accrued interest, 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 protected deposits and liabilities.
Under EU resolution rules, a competent authority may impose “Resolution Measures,” including writing down payments to zero, converting the notes into equity, or amending or cancelling the notes, without this constituting an event of default. Investors may have limited acceleration and enforcement rights and could lose some or all of their investment. The notes are not insured by the FDIC and are not intended for retail investors in the EEA or UK. Net proceeds of about $1,989,000 will be used for general corporate purposes.
Deutsche Bank AG is issuing $5,176,000 of 4.50% Fixed Rate Callable Senior Debt Funding Notes due November 27, 2030. The notes pay 4.50% interest per year on each November 28, starting in 2026, with principal repaid at maturity unless the bank redeems them earlier. Deutsche Bank may, in its sole discretion and subject to regulatory approval, redeem the notes at 100% of principal plus accrued interest on May 28 and November 28 from 2026 through May 28, 2030.
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. Under EU bank resolution rules, a resolution authority can impose "Resolution Measures," including writing down payments to zero or converting the notes into equity, without this being an event of default. There is no right to accelerate the notes for non‑payment apart from German insolvency proceedings. The notes are not insured by the FDIC, and net proceeds are for general corporate purposes.
Deutsche Bank AG is offering $3,394,000 of 5.80% Fixed Rate Callable Senior Debt Funding Notes due November 28, 2050. The notes pay 5.80% annual interest on November 28 of each year, starting in 2026, using a 30/360 day count.
Deutsche Bank may redeem the notes at its option at 100% of principal plus accrued interest on May 28 and November 28 of each year from 2027 through May 2050, 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 highly ranked liabilities in an insolvency or resolution.
Holders expressly consent to potential European bank “Resolution Measures,” including write-downs or conversion of the notes to equity if the bank is deemed non-viable, which could result in a full loss of principal and interest without constituting an event of default. There is no right of acceleration for payment defaults, and the notes are not insured by the FDIC or any government agency. After underwriting discounts of $10 per $1,000 note, Deutsche Bank expects net proceeds of $3,371,125 for general corporate purposes.
Deutsche Bank AG is issuing $2,840,000 of 5.00% Fixed Rate Callable Senior Debt Funding Notes due November 28, 2033. The notes pay 5.00% per annum, with interest paid annually each November 28, starting in 2026, based on a 30/360 day count convention.
The bank 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 each May 28 and November 28 from November 28, 2026 through May 28, 2033. The notes are unsecured, unsubordinated "senior preferred" obligations that rank ahead of Deutsche Bank’s senior non-preferred debt but behind certain protected deposits and higher-ranking liabilities.
The price to the public is $1,000 per note, with underwriting discounts of $6.50 per note, resulting in net proceeds to Deutsche Bank of $2,823,050 before expenses. Investors accept significant resolution and bail-in risk: a resolution authority may write down payments, convert the notes into equity, amend their terms, or cancel them, without this constituting an event of default, which means investors could lose some or all of their investment.
Deutsche Bank AG is offering $4,123,000 of 5.75% Fixed Rate Callable Senior Debt Funding Notes due November 28, 2045. The notes pay fixed interest of 5.75% per annum, with payments made annually each November 28 starting in 2026, and may be redeemed at the bank’s option at 100% of principal on semi-annual call dates beginning November 28, 2026, subject to regulatory approval.
The notes are unsecured, unsubordinated "senior preferred" obligations that rank ahead of Deutsche Bank’s senior non-preferred debt but behind certain deposits and other higher-ranking liabilities in an insolvency or resolution. They are subject to European bank Resolution Measures, including potential write-down or conversion to equity, which could result in partial or total loss of principal and interest without constituting an event of default. There is no right of acceleration for payment defaults, and the notes are not insured by the FDIC, not listed on any exchange, and are sold at $1,000 per note, with net proceeds of $4,086,000 used for general corporate purposes.
Deutsche Bank AG filed a Form 6-K summarizing its Investor Deep Dive conference held on November 17, 2025. The filing attaches a media release, multiple management presentations and a financial data supplement, and incorporates the 6-K and two exhibits by reference into an existing SEC registration statement.
The bank explains that its Investor Deep Dive materials are prepared under EU IFRS using the EU carve out for portfolio fair value hedge accounting, aimed at reducing volatility in reported Treasury revenues. It contrasts this with IASB IFRS used for U.S. reporting, noting that the 3Q25 IASB IFRS earnings report was previously filed and that the impact of the EU carve out on forecasted fourth quarter and full-year 2025 results cannot currently be estimated.
The report also highlights Deutsche Bank’s use of various non-GAAP financial measures, such as adjusted costs, tangible equity and returns on average tangible equity, and directs readers to earlier filings and the attached financial data supplement for detailed definitions and reconciliations.
Deutsche Bank AG priced $2,235,000 of 4.85% Fixed Rate Callable Senior Debt Funding Notes due November 16, 2035. The notes pay 4.85% per year, with interest paid annually each November 17 from 2026 through 2034 and at maturity. The bank may redeem the notes at 100% of principal plus accrued interest on May 17 and November 17 of each year from November 17, 2029 through May 17, 2035, subject to regulatory approval.
The notes were offered at 100% of principal with $21.00 per-note underwriting discounts, resulting in net proceeds of $2,193,565 for general corporate purposes. They are unsecured, unsubordinated obligations, not FDIC insured, and will not be listed on any exchange. Investors consent to potential EU resolution “bail-in” measures that could write down payments or convert the notes into equity, and the notes feature limited events of default with no acceleration for payment defaults. Deutsche Bank Securities Inc., an affiliate, acted as agent, implicating FINRA Rule 5121 conflicts-of-interest provisions.
Deutsche Bank AG furnished a Form 6‑K that attaches its Earnings Report as of September 30, 2025 (Exhibit 99.1, prepared under IASB IFRS) and a capitalization table as of September 30, 2025 (Exhibit 99.2). The filing is incorporated by reference into Registration Statement No. 333-278331.
The company explains the difference between EU IFRS using the EU carve‑out for fair value macro hedges and IASB IFRS (no carve‑out); the attached Earnings Report reflects IASB IFRS, with the EU carve‑out impact described in its basis of preparation. The report includes a forward‑looking statements disclaimer and lists non‑GAAP measures (e.g., adjusted costs, tangible equity, returns), with definitions referenced in Exhibit 99.1 and the 2024 Form 20‑F. The “Risks and Opportunities” section in Exhibit 99.1 supplements, but does not replace, the 2024 Form 20‑F Risk Factors.
Deutsche Bank AG launched a preliminary 424B2 for 5.00% Fixed Rate Callable Senior Debt Funding Notes due October 31, 2035. The notes pay 5.00% per annum, with interest paid annually each October 31, starting October 31, 2026, using an unadjusted 30/360 convention. Issue price is 100% of principal.
The issuer may redeem the notes in whole, not in part, at 100% of principal plus accrued interest on the last calendar day of each April and October, from April 30, 2027 through April 30, 2035, by giving at least five business days’ notice, subject to regulatory approval. Maturity is October 31, 2035, and the notes are not listed.
Per-note economics: Price to public $1,000, underwriting discount $40, and proceeds to the issuer $960. Deutsche Bank Securities Inc., an affiliate, acts as agent, with FINRA Rule 5121 conflict-of-interest provisions disclosed.
The notes are unsecured, unsubordinated obligations that are subject to EU resolution measures, including write-down or conversion to equity, and have limited acceleration rights. U.S. tax counsel expects treatment as fixed rate debt issued without OID, based on the stated facts.