ISIN | Name of Product |
Originally titled: | |
XS1239614040 | Series 2139 EUR 100,000,000 Variable Rate Range Accrual Notes due 2030 |
following the amendments set out herein titled: | |
EUR 100,000,000 Digital Variable Coupon Notes linked to the CNO TEC10 Rate, due 2037 |
Euroclear Bank SA/NV, 1 Boulevard du Roi Albert II, 1210 Brussels, Belgium;
Clearstream Banking Luxembourg S.A., 42 avenue John F. Kennedy, L-1855 Luxembourg; and
Common depositary on behalf of Euroclear and Clearstream
Documentation
Reference is made to the pricing supplement in respect of the Securities dated 3 June 2015 (as amended and restated on or around 9 April 2018 and as further amended and restated on or around 21 November 2018) (the “Pricing Supplement”); the prospectus in respect of the Securities dated 16 June 2015 (as amended and restated on or around 9 April 2018 and as further amended and restated on or around 21 November 2018) (the “Prospectus” and together with the Pricing Supplement, the “Issuance Terms”) and the Base Prospectus dated 16 June 2014 in respect of Deutsche Bank AG’s Euro 800,000,000,000 Debt Issuance Programme (the “2014 Base Prospectus”). Capitalised terms used but not defined herein will bear the same meaning as in the Issuance Terms or the 2014 Base Prospectus, as applicable.
Amendments
With effect from the date hereof, the Issuer, with the consent of 100 per cent. of the Securityholders, has
(i) amended the Terms and Conditions of the Securities as set in the amended and restated final terms in the form set out at the Schedule hereto (such amendments, being the “Amendments” and such amended and restated final terms, the "Amended and Restated Final Terms") with effect from 11 June 2025 (the "Effective Date"). The Amendments include, without limitation:
amending the Terms and Conditions such that, in place of the terms and conditions of the 2014 Base Prospectus, the Securities will be subject to the terms and conditions of the of the Securities Note in respect of Deutsche Bank AG’s X-Markets Programme for the issuance of Certificates, Warrants and Notes dated 26 September 2024 (the “Securities Note”);
reflecting the substitution of the Issuer with Deutsche Bank AG acting through its Frankfurt head office (the “New Issuer”); and
extending the Settlement Date of the Securities from 3 June 2030 to 3 June 2037, in each case, with effect from the Effective Date.
Notice to Clearing Systems and Common Depositary
Pursuant to the Amendments, as of the Effective Date, without limitation:
the New Issuer shall be the issuer in respect of the Securities; and
the New Issuer shall fulfil the roles of fiscal agent and paying agent in respect of the Securities in place of the existing Fiscal Agent and Paying Agent.
We would be grateful if you could update you systems to reflect the New Issuer and operationally reflect the removal of the Fiscal Agent and Paying Agent and that the New Issuer shall be fulfilling these roles.
This notice and any non-contractual obligations arising out of or in connection with this notice will be governed by and construed in accordance with the laws of England.
Deutsche Bank AG, London Branch 4 June 2025
SCHEDULEAmended and Restated Final TermsAmended and Restated Final Terms dated 11 June 2025 (the “Amendment Effective Date”)
(amending and restating the Amended and Restated Issuance Terms dated 21 November 2018, which amended and restated the Issuance Terms dated 9 April 2018, which amended and restated the terms set out in the Prospectus dated 16 June 2015, in each case, in respect of the Securities)
DEUTSCHE BANK AG
Issue of EUR 100,000,000 Digital Variable Coupon Notes linked to the CNO TEC10 Rate, due 2037
(formerly titled Series 2139 EUR 100,000,000 Variable Rate Range Accrual Notes due 2030) under its
Programme for the issuance of Certificates, Warrants and Notes Issue Price: 100 per cent. of the Nominal Amount per Note
ISIN: XS1239614040
This document constitutes the Final Terms of the Securities described herein and comprises the following parts:
Economic terms of the Securities
Terms and Conditions (Specific Terms of the Securities) Further Information about the offering of the Securities
These Final Terms have been prepared for the purposes of Article 8(5) of the Prospectus Regulation and must be read in conjunction with the Base Prospectus, comprising the Securities Note dated 26 September 2024 (the "Securities Note") and the Registration Document dated 6 May 2024, as amended by the supplements dated 27 May 2024, 31 July 2024, 27 August 2024, 31 October 2024, 6 January 2025,
5 February 2025, 18 March 2025 and 5 May 2025 (the "Registration Document") (such Base Prospectus, the “2024 X-Markets Prospectus”), in order to obtain all relevant information. Full information on the Issuer and the Securities is only available on the basis of the combination of these Final Terms, the Securities Note and the Registration Document.
The Securities Note dated 26 September 2024, the Registration Document dated 6 May 2024, any supplements to the Base Prospectus or the Registration Document, and the Final Terms are published, in accordance with Article 21(2)(a) of the Prospectus Regulation, in electronic form on the Issuer's website (https://www.xmarkets.db.com).
In case of admission to trading of the Securities on the Luxembourg Stock Exchange, the Securities Note dated 26 September 2024, the Registration Document dated 6 May 2024, and any supplements to the Base Prospectus or the Registration Document, and the Final Terms are published on the website of the Luxembourg Stock Exchange (https://www.luxse.com).
In addition, the Securities Note dated 26 September 2024 and the Registration Document dated 6 May 2024 and any supplements to the Base Prospectus or the Registration Document shall be available free of charge at the registered office of the Issuer, Deutsche Bank AG, Taunusanlage 12, 60325 Frankfurt am Main, and its London Branch, at 21 Moorfields, London, EC2Y 9DB, United Kingdom.
Terms not otherwise defined herein shall have the meaning given in the General Conditions set out in the Base Prospectus.
Amendment and Restatement
The Securities were issued by Deutsche Bank Aktiengesellschaft acting through its London Branch (the “Original Issuer”) pursuant to the Base Prospectus dated 26 June 2014 in respect of the Deutsche Bank Aktiengesellschaft’s EUR 80,000,000,000 Debt Issuance Programme (the “2014 Programme”) and by way of a pricing supplement dated 3 June 2015. Application was made to the Luxembourg Stock Exchange for the admission to trading on the Luxembourg Stock Exchange's Regulated Market and the listing on the Official List of the Luxembourg Stock Exchange pursuant to a Prospectus dated 16 June 2015 (as amended and restated on 9 April 2018 and as further amended and restated on 21 November 2018) (the “Original Prospectus”).
The Issuer, with the consent of 100 per cent. of the Securityholders, has amended the terms and conditions of the Securities as of the Amendment Effective Date by way of these Amended and Restated Final Terms. Such amendments include, without limitation: (i) substitution of the Original Issuer with Deutsche Bank AG; (ii) amendments to the determination of the Coupon; (iii) extension of the Settlement Date from 3 June 2030 to 3 June 2037; and (iv) amendment of the terms and conditions applicable to the Securities such that, in place of the terms and conditions of the 2014 Programme, the Securities are subject to the terms and conditions of the 2024 X-Markets Prospectus.
Up to (but excluding) the Amendment Effective Date, the Securities are subject to the terms set out in Annex A to these Final Terms. With effect from (and including) the Amendment Effective Date, the Securities shall be subject to the terms and conditions of the Securities Note as completed by the Terms and Conditions of these Final Terms (excluding Annex A hereto).
Economic terms of the SecuritiesThe following description of the Securities explains the economic terms of the Securities and its characteristics applicable from (and including) the Amendment Effective Date.
If on any Coupon Observation Date, the Relevant Reference Level Value of the Underlying is not below a certain threshold, no coupon will be paid on the immediately following Coupon Payment Date. It is thus possible that no Coupon Payments are made throughout the term of the Digital Variable Coupon Note. If this occurs, while an investor will receive the Nominal Amount of each Digital Variable Coupon Note at redemption, they will not receive any return beyond this.
The Terms and Conditions applicable to the Securities from (and including) the Amendment Effective Date (the “Conditions”) are as set out below (excluding Annex A). The Terms and Conditions applicable to the Securities up to (but excluding) the Amendment Effective Date are set out in Annex A to these Final Terms.
Terms and Conditions
The following "Specific Terms of the Securities" shall, for the relevant Series of Securities, complete and put in concrete terms the General Conditions of the Securities for the purposes of such Series of Securities. The Specific Terms of the Securities and the General Conditions of the Securities together constitute the "Terms and Conditions" of the relevant Securities from (and including) the Amendment Effective Date.
General Definitions Applicable to the Securities
Security Type Note – Digital Variable Coupon Note
ISIN XS1239614040
Common Code 123961404
Issuer Deutsche Bank AG
Aggregate Nominal Amount EUR 100,000,000
Issue Price 100 per cent. of the Nominal Amount per Security
Issue Date 3 June 2015
Nominal Amount EUR 100,000 per Note
Calculation Agent Deutsche Bank AG, London Branch
Secured Conditions Not Applicable.
Underlying The 10-year constant maturity treasury rate (known as CNO TEC10) as provided and administered by the Banque de France (or any successor administrator thereto) (Bloomberg screen: BFRTEC10 Index ) (the Underlying being a “Reference Item” and an “Interest Rate” for the purposes of the General Conditions)
Settlement Cash Settlement
Settlement Date 3 June 2037
Coupon provisions from (and including) the Amendment Effective DateCoupon 4.00 per cent. per annum
Day Count Fraction As defined under no. (i) within §4(3) of the General Conditions
of the Securities
Actual/Actual (ICMA Rule 251)
Coupon Period As specified in §4(3), provided that the first Coupon Period
shall commence on (and include) 3 June 2025 Adjusted Coupon Period Not Applicable
Unadjusted Coupon Period Applicable
Business Day Convention Following Business Day Convention
Coupon Business Day A day (other than a Saturday or Sunday) on which (a) the
Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System (or any successor thereto) is open, and (b) commercial banks and foreign exchange markets settle payments (including dealings in foreign exchange and foreign currency deposits) in Frankfurt, London and Paris
Coupon Observation Date In respect of a Coupon Period, the date that falls two (2)
Coupon Business Days prior to the Coupon Period End Date in respect of such Coupon Period (each Coupon Observation Date being an “Observation Date” for the purposes of the General Conditions)
Coupon Period End Date 3 June in each year from (and including) 3 June 2026 to (and
including) 3 June 2037, without adjustment in accordance with any business day convention
Coupon Cessation Date The Coupon Payment Date scheduled to fall on the Settlement
Date
Coupon Payment Date Each of:
3 June in each calendar year from (and including) 3 June 2026 to (but excluding) the Settlement Date; and
the Settlement Date,
in each case, subject as set out in the Product Conditions, and provided that if any such Coupon Payment Date would otherwise fall on a day which is not a Payment Day, such Coupon Payment Date shall be postponed to the next day which is a Payment Day.
General Definitions Applicable to Certificates
Not Applicable
General Definitions Applicable to Warrants
Not Applicable
General Definitions Applicable to Notes
Cash Amount In respect of each Note, the Nominal Amount
Relevant Reference Level Value In respect of a Coupon Observation Date, or any other day, the
Underlying rate, expressed as a percentage, provided by the Banque de France as administrator of the Underlying around 11:00
a.m. Paris time (or any amended publication time specified by the administrator of the Underlying in the benchmark methodology) in respect of such Coupon Observation Date or such other day, as applicable as published by the Agence France Trésor on the AFT website (https://www.aft.gouv.fr/en/tec-10-oat) and Bloomberg Screen BFRTEC10 IndexIn case of inconsistency between the quotations published on the Bloomberg Screen BFRTEC10 Index and the AFT website, the quotation published on the AFT website shall prevail.
If, for any reason, the Calculation Agent determines that it is unable to determine the Relevant Reference Level Value in respect of any day in accordance with the above, then the Relevant Reference Level Value in respect of such day will be determined by the Calculation Agent in good faith and in a commercially reasonable manner
Specific Definitions Applicable to Notes
Not Applicable
Product No. N26: Digital Variable Coupon Note
Coupon Payment If, in respect of a Coupon Period and the Coupon Observation
Date in respect of such Coupon Period:
the Relevant Reference Level Value is below the Coupon Threshold, the Coupon Payment in respect of such Coupon Period will be made on the immediately following Coupon Payment Date; or
the Relevant Reference Level Value of the Underlying is greater than or equal to the Coupon Threshold, no Coupon Payment will be made in respect of such Coupon Period on the next Coupon Payment Date.
Coupon Threshold 4.56 per cent.
Coupon Amount In respect of a Coupon Period and a Coupon Payment Date
for which a Coupon Payment will be made, an amount, calculated by the Calculation Agent, equal to the product of:
the Nominal Amount; and
the Coupon; and
the Day Count Fraction in respect of such Coupon Period.
Each Coupon Amount will be rounded to the nearest two decimal places in the Settlement Currency, with 0.005 being rounded downwards.
Further Definitions Applicable to the Securities
Settlement Currency Euro (“EUR”)
Business Day A day (other than a Saturday or Sunday) on which (a) the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System (or any successor thereto) is open, and (b) commercial banks and foreign exchange markets settle payments (including dealings in foreign exchange and foreign currency deposits) in the Business Day Locations
Business Day Locations London
Payment Day Locations London
Minimum Redemption Amount Payable
Not Applicable
Form of Securities Global Security in bearer form Ranking Preferred
Eligible Liabilities Format Applicable Governing Law English law
Clearing Agent Euroclear Bank SA/NV, 1 Boulevard du Roi Albert II, 1210 Brussels, Belgium and Clearstream Banking Luxembourg S.A., 42 avenue John F. Kennedy, L-1855 Luxembourg
Further Information about the Offering of the SecuritiesListing and TradingListing and Trading Application has been made by the Issuer (or on its behalf) for the Securities to be listed on the Official List and to list them on the Regulated market of the Luxembourg Stock Exchange, which is a regulated market for the purposes of Directive 2014/65/EU (as amended), with effect from, at the earliest, the Issue Date.
The Issuer has no duty to maintain the listing (if any) of the Securities on the relevant stock exchange(s) over their entire lifetime. Securities may be suspended from trading and/or de-listed at any time in accordance with applicable rules and regulations of the relevant stock exchange(s).
Minimum Trade Size Not applicable
Estimate of total expenses related to admission to trading
Prohibition of Sales to Retail Investors in the European Economic AreaProhibition of Sales to Retail Investors in the United KingdomNot applicable Applicable Applicable
FeesTrailer Fee Not applicable
Placement Fee Not applicable
Fees paid by the Issuer to the distributor Not applicable
Fees charged by the Issuer to the Securityholders post issuance
Security RatingsNot applicable
Rating The Securities have not been rated.
Interests of Natural and Legal Persons involved in the IssueInterests of Natural and Legal Persons involved in the Issue
The Issuer may, on any day following the Issue Date and in its sole discretion, elect to have the Securities rated and, in such circumstances, may, but shall not be obliged to, notify Securityholders of such rating. No assurances will be given that the Securities will be rated or, if rated, in respect of the ratings that the Securities will receive and, if rated, any such rating may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency.
So far as the Issuer is aware, no person involved in the issue of the Securities has an interest material to the issue
Publication of NoticesPublication of notices Notices will be published in accordance with
§16(1)(b)
Ranking of the SecuritiesRanking of the Securities Preferred
U.S. Federal Income Tax ConsiderationsU.S. Federal Income Tax Considerations The Securities are not 871(m) Securities for
purposes of Section 871(m) of the U.S. Internal Revenue Code of 1986.
Deutsche Bank AG and/or its affiliates to subscribe to SecuritiesDeutsche Bank AG and/or its affiliates to subscribe to Securities
The Securities will be subscribed to and retained by Deutsche Bank AG and/or its affiliates on the Issue Date. Deutsche Bank AG and/or its affiliates may use the Securities in repurchase transactions, securities loans, total return swaps and/or other transactions of a similar nature.
Information relating to the UnderlyingInformation on the Underlying, on the past and future performance of the Underlying and its volatility can be obtained free of charge on the public website on https://www.aft.gouv.fr/en/tec-10-oat and on the Bloomberg page as provided for the Underlying.
Banque de France, as a central bank and therefore subject to an exemption, does not appear in the Register of administrators and benchmarks established and maintained by the European Securities and Markets Authority pursuant to Article 36 of the Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 ("Benchmark Regulation").
Further information published by the IssuerThe Issuer does not intend to provide any further information on the Underlying.
Annex A Original Issue TermsThis Annex A sets out the Terms and Conditions in respect of the Securities up to (but excluding) the Amendment Effective Date. These Terms and Conditions are to be read in conjunction with the set of Terms and Conditions that apply to Structured Notes set forth in as Option V in Deutsche Bank Aktiengesellschaft’s EUR 80,000,000,000 Debt Issuance Programme (the “Programme”) incorporates by reference (i) the provisions of the Base Prospectus (the “Base Prospectus”) dated 26 June 2014 approved by the Commission de Surveillance du Secteur Financier (the “CSSF”) issued by the Issuer in respect of the Programme, (ii) the first supplement to the Base Prospectus dated 1 August 2014 approved by the CSSF (the “First Supplement”),
(iii) the second supplement to the Base Prospectus dated 17 November 2014 approved by the CSSF (the “Second Supplement”), (iv) the third supplement to the Base Prospectus dated 4 February 2015 (the “Third Supplement”), (v) the fourth supplement to the Base Prospectus dated 1 April 2015 (the “Fourth Supplement”), (vi) the fifth supplement to the Base Prospectus dated 13 May 2015 (the “Fifth Supplement”), (vii) the sixth supplement to the Base Prospectus dated 27 May 2015 (the “Sixth Supplement”) and, (viii) the seventh supplement to the Base Prospectus dated 15 June 2015 (the “Seventh Supplement”). The Programme, Base Prospectus, and each supplement thereto, are incorporated by reference into these Final Terms.
The Programme, the Base Prospectus and each supplement thereto are published, in accordance with Article 21(2)(a) of the Prospectus Regulation, in electronic form on the Issuer's website (https://www.db.com) and are published on the website of the Luxembourg Stock Exchange (https://www.luxse.com/programme/Programme-DeutscheBank/13607).
In addition, the Programme, the Base Prospectus and each supplement thereto shall be available free of charge at the registered office of the Issuer, Deutsche Bank AG, Taunusanlage 12, 60325 Frankfurt am Main, and its London Branch, at 21 Moorfields, London, EC2Y 9DB, United Kingdom.
All references in this Part I. of these Terms and Conditions are to numbered Sections and Paragraphs are – unless stated otherwise – to sections and paragraphs of the Conditions.
The Terms and Conditions which are applicable to the Securities and the blanks therein shall be deemed to be completed and (as applicable) amended by the information contained in these Terms and Conditions as if such information were inserted therein. All provisions in the Terms and Conditions corresponding to items in these Terms and Conditions which are either not selected or completed (and amended as applicable) or which are deleted shall be deemed to be deleted from the Terms and Conditions applicable to the Securities (the "Conditions").
Capitalised terms in this Annex A shall have the meanings specified in the Conditions.
GOVERNING LAW English Law (“English Securities”)
TYPE OF SECURITIES
Legal type Bearer Securities
Appellation Notes
Partly-paid Securities No
CURRENCY, DENOMINATION, FORM, CERTAIN DEFINITIONS (§ 1)
IssuerIssuer Deutsche Bank Aktiengesellschaft acting through its London Branch
Currency and DenominationSpecified Currency Euro (“EUR”)
Aggregate Principal Amount
Series EUR 100,000,000
Tranche EUR 100,000,000
Date on which the Securities will be consolidated and form a single Series:
Not applicable
Specified Denomination(s) EUR 100,000
Calculation Amount EUR 100,000
Form of Bearer SecuritiesTEFRA D Temporary Global Security exchangeable for a Permanent Global Security
Exchangeable on request Not applicable
Exchange Event provisions Not applicable
Global securities(s) to be in NGN form Not applicable
Form of Registered Securities Not applicableClearing System Clearstream Banking société anonyme, Luxembourg (“CBL”)Euroclear Bank S. A./N. V. Brussels (“Euroclear”)
Alternative clearing provisions Not applicable
STATUS (§ 2)
Status of Securities Unsubordinated
INTEREST (§ 3)
Fixed Rate Securities Not applicable
Floating Rate or other variable interest rate Securities
Applicable
Interest Commencement Date 03 June 2015
TARN provisions Not applicable
Interest Payment Dates (i) In respect of the period from (and including) the Interest Commencement Date to (but excluding) 03 June 2020, 03 June in each year from (and including) 03 June
2016 to (and including) 03 June 2020; and
(ii) in respect of the period from (and including) 03 June 2020 to (but excluding) 03 June 2025, 03 September, 03 December, 03 March and 03 June in each year from (and including) 03 September 2020 to (and including) 03 June
2025;
subject in each case to adjustment in accordance with the Modified Following Business Day Convention.
Interest Amount See 5.2.3 below
Interest Period The period from (and including) the Interest Commencement Date to (but excluding) the first Interest Payment Date and thereafter from (and including) each Interest Payment Date to (but excluding) the next following Interest Payment Date until (but excluding) 03 June 2025.
Day Count Fraction 30/360
Basic Floating Rate Securities Not applicable
Securities with a formula for calculating interest
Not applicable
Range Accrual Securities Applicable – for the period from (and including) the Interest
Commencement Date to (but excluding) 03 June 2017 (“Rate of Interest I Period”).
Formula; The Interest Amount payable per Calculation Amount will be calculated in accordance with the following formula:
CMS Payoff × (N/D)
Where:
“CMS Payoff” means 3 × CMS 10 Rate, subject to the Minimum Rate of Interest and the Maximum Rate of Interest I.
For the purposes of determining CMS Payoff, the CMS 10 Rate shall be determined by the Calculation Agent two (2) Business Days prior to the beginning of the relevant Interest Period.
“D” means the number of Range Accrual Days.
“N” means the number of Range Accrual Days on which the Range Accrual Condition is satisfied.
“Range Accrual Condition” means, on any Range Accrual Day where the CMS 30 Rate minus the CMS 10 Rate is greater than or equal to, 0.15 per cent.
“Range Accrual Days” means each calendar day in the relevant Interest Period.
Securities with Interest Switch Applicable – for the period from (and including) 03 June
2017 to (but excluding) the Maturity Date.
Interest Rate Change Date (I) 03 June 2017
Interest Rate Change Date (II) 03 June 2018
Interest Rate Change Date (III) 03 June 2020
Interest Rate Change Date (IV) 03 June 2024
Rate of Interest II (in respect of Rate of Interest II Period) 2.35 per cent per annum
Interest Amount (in respect of Rate of Interest II Period) EUR 2,350 per Calculation Amount
Rate of Interest III (in respect of Rate of Interest III Period)
1 x CMS 10 Rate
subject to the Minimum Rate of Interest and the Maximum Rate of Interest III
For the purposes of determining Rate of Interest III only, CMS 10 Rate shall be determined by the Calculation Agent two (2) Business Days prior to the beginning of the relevant Interest Period.
Rate of Interest IV (in respect of Rate of Interest IV Period)
14.5 x [CMS 30 rate – CMS 10 rate – 0.15%]
subject to the Minimum Rate of Interest and the Maximum Rate of Interest IV
For the purposes of determining Rate of Interest IV only, each of CMS 10 Rate and CMS 30 Rate shall be determined by the Calculation Agent two (2) Business Days prior to the end of the relevant Interest Period.
Rate of Interest V (in respect of Rate of Interest V Period) 16.5 x [CMS 30 rate – CMS 10 rate – 0.15%]
subject to the Minimum Rate of Interest and the Maximum Rate of Interest V
For the purposes of determining Rate of Interest V only, each of CMS 10 Rate and CMS 30 Rate shall be determined by the Calculation Agent two (2) Business Days prior to the end of the relevant Interest Period.
Rate of Interest II Period The period from (and including) Interest Rate Change Date I to (but excluding) the Interest Rate Change Date (II)
Unadjusted Rate of Interest II Periods
Rate of Interest III Period The period from (and including) the Interest Rate Change Date II to (but excluding) the next Interest Period End Date and thereafter from (and including) each Interest Period End Date to (but excluding) the next following Interest Period End Date up to and including the Interest Rate Change Date (III)
Unadjusted Rate of Interest III Periods
Rate of Interest IV Period The period from (and including) the Interest Rate Change Date III to (but excluding) the next Interest Period End Date and thereafter from (and including) each Interest Period End Date to (but excluding) the next following Interest Period End Date up to and including the Interest Rate Change Date (IV)
Unadjusted Rate of Interest IV Periods
Rate of Interest V Period The period from (and including) the Interest Rate Change Date IV to (but excluding) the next Interest Period End Date and thereafter from (and including) each Interest Period End Date to (but excluding) the next following Interest Period End Date up to (but excluding) the Maturity Date
Unadjusted Rate of Interest V Periods
Rate of Interest II – Interest Period End Date(s) 03 June 2018
Rate of Interest III – Interest Period End Date(s) 03 June 2019 and 03 June 2020
Rate of Interest IV – Interest Period End Date(s) 03 September, 03 December, 03 March and 03 June in each
year, from (and including) 03 September 2020 to (and including) 03 June 2024
Rate of Interest V – Interest Period End Date(s) 03 September, 03 December, 03 March and 03 June in each
year, from (and including) 03 September 2024 to and including the Maturity Date
Day Count Fraction II 30/360
Day Count Fraction III 30/360
Day Count Fraction IV 30/360
Day Count Fraction V 30/360
Equity or Index Linked Interest Securities
Not applicable
Inflation Linked Interest Securities Not applicable
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Deutsche Bank AG published this content on June 04, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 04, 2025 at 13:31 UTC.