Deutsche Bank AG is marketing unsecured, unsubordinated senior preferred Market-Linked Notes maturing on or about 1 July 2030. The Notes track an unequally weighted equity basket comprising the EURO STOXX 50 (40%), Nikkei 225 (25%), FTSE 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%).
Return profile: at maturity investors receive the USD1,000 face amount plus Basket Return × Participation Rate if the Basket Return is positive; otherwise only principal is repaid. The indicative Participation Rate is 135%–143.5% (to be fixed on the 26 June 2025 trade date). There are no interim coupons or dividends.
Key economics: Issue price USD1,000; minimum investment USD1,000. Underwriter commission USD35 per Note, leaving USD965 proceeds to the issuer. Deutsche Bank’s estimated value on the trade date is USD910.20–928.30, reflecting hedging costs, commissions and a lower internal funding rate.
Risk highlights: (1) full exposure to Deutsche Bank credit risk; (2) potential bail-in or write-down under EU resolution rules, meaning investors could lose some or all principal; (3) no market listing and likely limited secondary liquidity; (4) investors forgo dividends; (5) the product may trade below issue price after settlement.
Timeline: Trade Date 26 Jun 2025, Settlement Date 30 Jun 2025, Final Valuation 26 Jun 2030, Maturity 1 Jul 2030.
Distribution is handled by UBS Financial Services Inc. and Deutsche Bank Securities Inc. (an affiliate and therefore a conflict of interest).
Deutsche Bank AG has filed a 424B3 prospectus for Market Linked Notes tied to the S&P 500® Index, due July 1, 2032. The notes offer growth potential subject to a Maximum Gain of 72.00% to 77.75% with a 100% Participation Rate.
Key features include:
- Minimum investment of $1,000 with estimated value of $929.60 to $948.60 per $1,000 Face Amount
- Principal protection if held to maturity, subject to issuer credit risk
- Returns linked to S&P 500® Index performance, capped at Maximum Gain
- CUSIP: 25160YFJ2
Important risks: Notes are subject to Deutsche Bank's credit risk and potential Resolution Measures including write-down or conversion to equity if bank becomes non-viable. Notes will not be listed on any securities exchange. Deutsche Bank Securities and UBS Financial Services are acting as agents, with $35 per note in discounts and commissions.
Deutsche Bank AG is offering $2,579,000 in 5.80% Fixed Rate Callable Senior Debt Funding Notes due June 25, 2035. Key features include:
- Notes priced at 100% ($1,000 per note) with annual interest payments at 5.80%
- Optional redemption rights starting December 25, 2026, exercisable semi-annually at 100% of principal plus accrued interest
- Notes qualify as eligible liabilities for minimum requirement for own funds
- Subject to Resolution Measures including potential write-down to zero or conversion to equity if bank becomes non-viable
The offering is being underwritten by Deutsche Bank Securities Inc. (DBSI), receiving up to $7.50 per note in discounts and commissions. Total proceeds to Deutsche Bank will be $2,564,000. Notes are unsecured, unsubordinated senior preferred obligations and are not FDIC insured. Important risks include potential loss of investment through Resolution Measures under European banking regulations.
Deutsche Bank AG has announced a $8.593 million offering of 6.00% Fixed Rate Callable Senior Debt Funding Notes due June 25, 2035. The notes are being issued at a price of 100% with minimum denominations of $1,000.
Key features include:
- Annual interest payments at 6.00% per annum, payable on June 25th each year starting 2026
- Optional redemption rights for Deutsche Bank starting June 25, 2026, exercisable semi-annually at 100% of principal plus accrued interest
- Notes qualify as eligible liabilities for minimum requirement for own funds
- Subject to Resolution Measures including potential write-down to zero or conversion to equity if bank becomes non-viable
The offering includes $33,000 in discounts and commissions to Deutsche Bank Securities Inc (DBSI), resulting in net proceeds of $8.56 million to Deutsche Bank. The notes are unsecured, unsubordinated senior preferred obligations and are not FDIC insured. Trading is expected to commence on June 25, 2025.
Deutsche Bank AG is offering $12 million aggregate principal amount of 5.65% Fixed-Rate Callable Senior Debt Funding Notes due June 25 2035. The notes are unsecured, unsubordinated senior preferred obligations that qualify as eligible liabilities for the European MREL framework. Interest is paid annually in arrears every 25 June, beginning 25 June 2026, calculated on an unadjusted 30/360 basis.
The bank may, in its sole discretion, redeem the notes in whole (not in part) at par on any semi-annual Optional Redemption Date (25 June & 25 December) starting 25 December 2026 through 25 December 2034, with at least five business days’ notice and subject to regulatory approval. If not redeemed, principal is repaid at maturity on 25 June 2035.
Issue terms: price to public 100% (eligible institutions may pay as low as $980), underwriting discounts up to $20 per $1,000 note, leaving minimum proceeds of $980 per note to the issuer. Minimum denomination is $1,000. The notes will settle through DTC and will not be listed on any exchange. Deutsche Bank Securities Inc., an affiliate, acts as agent, creating a potential conflict of interest.
Key risks: All payments are subject to Deutsche Bank’s credit. Under EU resolution regimes (BRRD / SRM), the notes may be written-down or converted to equity (bail-in) if the bank is deemed non-viable, potentially resulting in partial or total loss of principal and interest. Investors also face call risk (reinvestment at lower rates if the issuer exercises redemption) and liquidity risk due to the absence of a listing.