The bank will not call its USD 1.25 billion (~EUR 1,1 billion) 6.25% Additional Tier 1 Notes
(PRESS RELEASE) FRANKFURT AM MAIN, 11-Mar-2020 — /EuropaWire/ — Global multinational financial group Deutsche Bank said it will redeem its USD 800 million (~EUR 706 million) 6.55% Trust Preferred Securities of Deutsche Bank Contingent Capital Trust II (“DB CCT II”, ISIN: US25153X2080) on 26 May 2020. This date represents the first business day following the scheduled May 23, 2020 payment date. Official redemption notice will be sent according to the terms of the Trust Agreement governing the securities.
In addition to the redemption notice, the bank has also decided not to exercise its option to redeem the USD 1.25 billion (~EUR 1,1 billion) 6.25% Additional Tier 1 (AT1) Notes (ISIN: XS1071551474) on 30 April 2020, which is the first available call date for these securities.
Deutsche Bank’s strategy of evaluating all call decisions primarily on an economic basis in order to manage the Bank’s cost of funding is reflected in these decisions. The bank takes into account the market conditions and the current and future regulatory value of the respective capital instruments.
Deutsche Bank AG
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SOURCE: Deutsche Bank AG