POST-TRANSACTION PAYMENT ENABLEDBOND COMPLEXITY : HIGHISIN: DE000DL19VZ9
DB 4.625% Perpetual Corp (EUR)
DEUTSCHE BANK AG
Indicative Bid Price
99.601
Bid Yield to Worst
4.868%
Bid Yield to Call
4.983%
Min. Investment (Nominal)
200000
Indicative Ask Price
100.005
Ask Yield to Worst
4.606%
Ask Yield to Call
4.609%
Next Call Date
29 Oct 2027
Credit Rating (Bond)
BB+
Non-Investment Grade
Seniority
Junior Subordinated
Capital Structure
Additional Tier 1
Investor Profile
High Yield Seeker
Chart
Created with Highcharts 9.3.2Chart context menuBid Yield to WorstAsk Yield to WorstBid Yield to CallAsk Yield to Call10. Aug12. Aug14. Aug16. Aug18. Aug20. Aug22. Aug24. Aug26. Aug28. Aug30. Aug1. Sep3. Sep5. Sep7. Sep4.44.54.64.74.84.955.1FSM Global
Bond Information
Deutsche Bank AG is a global financial service provider delivering commercial, investment, private, and retail banking. The Bank offers debt, foreign exchange, derivatives, commodities, money markets, repo and securitization, cash equities, research, equity prime services, loans, convertibles, advice on M&A and IPO's, trade finance, retail banking, asset management, and corporate investments.
Bond Issuer
Deutsche Bank AG
Guarantor
-
Announcement Date
04 May 2021
Issue Date
11 May 2021
Maturity Date / Next Call Date
Perpetual / 29 Oct 2027
Years to Maturity / Next Call
Perpetual / 1.137
Issue/Reoffer Price
100.003
Issue/Reoffer Yield
4.526
Coupon Type
Variable
Annual Coupon Rate (%)
4.625
Annual Coupon Frequency
Annually
Seniority
Junior Subordinated
Exchange Listed
Others
Reference Rate
Reset Date: 30 Apr 2028 and every 5 years thereafter
Reset Rate: EUR 5Y SWAP + 4.747%
ISIN
DE000DL19VZ9
CUSIP
BP3850578
Bond Currency
EUR
Total Issue Size
EUR 1,250,000,000
Minimum Investment Quantity (Nominal)
EUR 200,000
Incremental Quantity (Nominal)
EUR 200,000
Bond Registration
Wholesale
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/A+
Bond Credit Rating (S&P/ Fitch)
***/BB+
Shariah Compliant
No
W-8BEN Declaration needed 
No
Bond Feature(s)
Additional Tier 1

Write Down

Upon the occurrence of a Trigger Event, the Prevailing Nominal Amount of each Note shall be reduced by the amount of the relevant writedown.

A "Trigger Event" occurs if, at any time, the common equity tier 1 capital ratio pursuant to Article 92(1)(a) CRR or any successor provision thereto, determined on a consolidated basis (the "Common Equity Tier 1 Capital Ratio") falls below 5.125 per cent. (the "Minimum CET1 Ratio"). Whether a Trigger Event has occurred shall be determined by the Issuer, the competent authority or any agent appointed for such purpose by the competent authority.
Non-Cumulative Deferral

Cancellation of Interest Payment at the discretion of the Issuer. In accordance with Article 52(1)(l)(iii) CRR the Issuer has the right to cancel all or part of any payment of interest in its sole discretion and at any time. If the Issuer makes use of such right, it shall give notice to the Holders in accordance with § 11 without undue delay but no later than on the relevant Interest Payment Date. Any failure to give such notice shall not affect the validity of the cancellation and shall not constitute a default for any purpose. A notice which has not been given until the relevant Interest Payment Date shall be given without undue delay thereafter.
The Issuer may redeem the Notes, in whole but not in part, with the prior approval of the competent authority and in accordance with § 5(7) with effect as of any Optional Redemption Date (as defined below) at their Redemption Amount (as defined below) together with interest (if any, and subject to a cancellation of the interest payment pursuant to § 3(8)) accrued to the Optional Redemption Date (exclusive).

"Optional Redemption Date" means:

(i) each Business Day during the period from 30 October 2027 (inclusive) to the First Reset Date (inclusive); and

(ii) each Interest Payment Date following the First Reset Date.
Price History
(Daily prices for the last 3 months), if you wish to view more than 3 months price history you may export the file
DATE
BID PRICE
ASK PRICE
ASK YIELD (CALL)
ASK YIELD (WORST)
08 Sep 202699.601100.0054.6094.606
07 Sep 202699.627100.0154.6004.600
06 Sep 202699.655100.0434.5744.574
03 Sep 202699.649100.0254.5904.590
02 Sep 202699.61299.9894.6234.617
01 Sep 202699.61899.9864.6254.619
31 Aug 202699.710100.1114.5124.512
30 Aug 202699.681100.1024.5204.520
27 Aug 202699.735100.1324.4934.493
26 Aug 202699.757100.1424.4854.485
Total of 67 entries
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FSM Global strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.
Credit Rating
CHANGE DATE
S&P Bond S&P Issuer Fitch Bond Fitch Issuer
02 Jun 2026 *** *** BB+A- -> A+
29 Feb 2024 *** *** BB+A-
30 Oct 2023 *** *** BB -> BB+BBB+ -> A-
Total of 3 entries
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Related Documents
pdfIcon
Prospectus
Euro 1,250,000,000 Undated Non-Cumulative Fixed to Reset Rate Additional Tier 1 Notes of 2021. Prospectus dated 10 May 2021.
Related Bonds
BOND NAME

ISSUER

MATURITY DATE / NEXT CALL DATE
ASK PRICE
ASK YTM / YTW
BOND CREDIT RATING (S&P/FITCH)
action
DB 1.875% 22Dec2028 Corp (GBP)

Deutsche Bank AG

 21 Dec 2027
(Next Call Date)		 96.216 4.361% p.a. ***/A-
TRANSACT
DB 8.130% Perpetual Corp (USD)

Deutsche Bank AG

 29 Apr 2030
(Next Call Date)		 104.870 6.561% p.a. ***/BB+
TRANSACT
DB 10.000% Perpetual Corp (EUR)

Deutsche Bank AG

 30 Nov 2027
(Next Call Date)		 106.671 4.251% p.a. ***/N.R
TRANSACT
DB 1.467% 21Dec2027 Corp (EUR)

Deutsche Bank AG

 20 Dec 2027 97.333 3.638% p.a. ***/N.R
TRANSACT
Total of 4 entries
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FSM's Fees
For more information, please refer to the Pricing Structure
For each Buy & Sell Order (Retail^, Wholesale, Bond Express)
Processing Fee
0.35% / Min. SGD 10*
Platform Fee
0.05% per quarter
Other Charges
Goods & Services Tax (GST)
9% (GST is applicable to Singaporean residents on FSM’s fee)
Order Processing Time
Buy Wholesale Bonds / SGS Bonds / Retail (All payment type)
Generally T+2 business days upon payment clearance
Sell Wholesale Bonds / SGS Bonds / Retail Bonds
Generally T+2 business days (Redemption proceeds will be credited on next day)
waveHandIcon

Remark

  1. *Processing fee is subjected to a minimum of SGD 10 (or in its equivalent currency).
  2. ^ For the purchase of the Retail Bonds, FSM Global will be absorbing SGX related Charges, till further notice.
  3. T = Transaction Date
    The Order processing time refers to the order completion and reflected in your account.
    ^The Purchase date will be based on T date

Platform Charge
  1. For the purpose of benefiting from lower rates based on higher investment holding tiers, the effective platform fee rate is based on the total combined holdings of all FSM accounts under main account holder (including beneficiary accounts), while Stock / ETF / Cash Account holdings are excluded from the combined holdings amount.
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Note
  1. All fees and commission quoted are exclusive of Goods and Services Tax (GST).
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Potential Income Explained
EDIT
Est. Payable Amount
EUR 204,447.66
Years to Call
1 years 1+ months
Est. Total Income
EUR 13,875.00
Yield to Call
4.033%
Indicative Cash Flow
Nominal Value
EUR 200,000.00
  • 2027
    Oct
    Coupon
    EUR 4,625.00
    Early Redemption
    EUR 200,000.00
  • Apr
    Coupon
    EUR 9,250.00
Disclaimer: Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.
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