The fixed-to-floating-rate eligible liabilities notes are due 2031

Davis Polk advised the sole bookrunner, joint lead managers and co-managers in connection with Deutsche Bank AG’s SEC-registered offering of $1.5 billion aggregate principal amount of fixed-to-floating-rate eligible liabilities senior notes due 2031. The fixed-to-floating-rate notes will bear interest at a rate of 5.297% per year until May 9, 2030, and thereafter, unless called on May 9, 2030, at a variable rate per year which will be equal to compounded SOFR plus 1.720%.

Headquartered in Frankfurt am Main, Germany, Deutsche Bank AG is the largest bank in Germany and one of the largest financial institutions in Europe and the world, comprising banks, capital markets, funds management, property finance, installment financing and research and consultancy companies. As of December 31, 2024, it had total assets of approximately €1.39 trillion and employed approximately 89,753 people.

The Davis Polk corporate team included partner Yan Zhang, counsel Michael J. Russo and associates Yongming Wu and Hengzhe Luo. The tax team included partner Lucy W. Farr, counsel David S. Fisher and associate Xiyuan (Spencer) Pan. All members of the Davis Polk team are based in the New York office.

 

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