POST-TRANSACTION PAYMENT ENABLEDBOND COMPLEXITY : HIGHISIN: XS1071551474
DB 8.130% Perpetual Corp (USD)
DEUTSCHE BANK AG
Indicative Bid Price
104.326
Bid Yield to Worst
6.729%
Bid Yield to Call
6.729%
Min. Investment (Nominal)
200000
Indicative Ask Price
104.870
Ask Yield to Worst
6.561%
Ask Yield to Call
6.561%
Next Call Date
29 Apr 2030
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. Sep6.26.36.46.56.66.76.8FSM 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
19 May 2014
Issue Date
26 May 2014
Maturity Date / Next Call Date
Perpetual / 29 Apr 2030
Years to Maturity / Next Call
Perpetual / 3.637
Issue/Reoffer Price
100.012
Issue/Reoffer Yield
7.440
Coupon Type
Variable
Annual Coupon Rate (%)
8.13011
Annual Coupon Frequency
Annually
Seniority
Junior Subordinated
Exchange Listed
Others
Reference Rate
Reset Date: 30Apr2025 & every 5 Yrs thereafter
Reset Rate: USD SOFR Spread-Adj. ICE Swap Rate 5Y + Initial Spread(4.358%)
ISIN
XS1071551474
CUSIP
EK2626407
Bond Currency
USD
Total Issue Size
USD 1,250,000,000
Minimum Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 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

Upon the occurrence of a Trigger Event, the Redemption Amount and the nominal amount of each Note shall be reduced by the amount of the relevant write-down.

A "Trigger Event" occurs if the Common Equity Tier 1 capital ratio pursuant to Article 92 (1) (a) CRR or any successor provision, determined on a consolidated basis (the "Common Equity Tier 1 Capital Ratio") falls below 5.125 per cent. (the"Minimum CET1 Ratio").

Upon the occurrence of a Trigger Event, a write-down shall be effected pro rata with all other Additional Tier 1 instruments within the meaning of the CRR (Additional Tier 1 capital), the terms of which provide for a write-down (whether permanent or temporary) upon the occurrence of the Trigger Event. For such purpose, the total amount of the write-downs to be allocated pro rata shall be equal to the amount required to restore fully the Common Equity Tier 1 Capital Ratio of the Issuer to the Minimum CET1 Ratio but shall not exceed the sum of the nominal amounts of the relevant instruments outstanding at the time of occurrence of the Trigger Event.

Interest Payments in respect of the Notes are entirely discretionary (i.e. Interest Payments will not accrue if the Issuer has elected, at its sole discretion, to cancel payment of interest (non-cumulative), in whole or in part, on any Interest Payment Date) and subject to the fulfilment of certain conditions.

In particular, Interest Payments will not accrue, in whole or in part, on any Interest Payment Date if and to the extent that the competent supervisory authority orders that all or part of the relevant payment of interest be cancelled or another prohibition of Distributions is imposed by law or an authority.

The Issuer may redeem the Notes, in whole but not in part, at any time, subject to the prior consent of the competent supervisory authority, upon not less than 25 days' notice of redemption with effect as of the 30 April 2020 and every 5 years thereafter at their Redemption Amount together with interest (if any, and subject to a cancellation of the interest payment pursuant to section 3 (8)) accrued to the Early Redemption Date (exclusive).

"Redemption Amount" shall be the initial nominal amount.

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 2026104.326104.8706.5616.561
07 Sep 2026104.517105.0706.5016.501
06 Sep 2026104.558105.1216.4866.486
03 Sep 2026104.559105.1006.4946.494
02 Sep 2026104.503105.0576.5086.508
01 Sep 2026104.626105.1656.4796.479
31 Aug 2026104.724105.3196.4336.433
30 Aug 2026104.885105.4526.3946.394
27 Aug 2026104.915105.5096.3786.378
26 Aug 2026104.893105.4836.3876.387
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
U.S.$1,250,000,000 Undated Non-cumulative Fixed to Reset Rate Additional Tier 1 Notes of 2014. Prospectus dated 26 May 2014.
pdfIcon
Notice
Noticed Dated 10 January 2024.
pdfIcon
Announcement
Deutsche Bank announces decision to redeem Trust Preferred Securities and not to call Additional Tier 1 Notes
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 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
DB 4.625% Perpetual Corp (EUR)

Deutsche Bank AG

 29 Oct 2027
(Next Call Date)		 100.005 4.606% p.a. ***/BB+
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
USD 216,962.54
Years to Call
3 years 7+ months
Est. Total Income
USD 65,040.88
Yield to Call
6.214%
Indicative Cash Flow
Nominal Value
USD 200,000.00
  • 2030
    Apr
    Coupon
    USD 16,260.22
    Early Redemption
    USD 200,000.00
  • 2029
    Apr
    Coupon
    USD 16,260.22
  • 2028
    Apr
    Coupon
    USD 16,260.22
  • 2027
    Apr
    Coupon
    USD 16,260.22
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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