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Deutsche Bank Contingent Capital Trust III, 7.60% Trust Preferred Securities
Ticker Symbol: DTK* CUSIP: 25154A108 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/20/2018
Security has been Called for: Tuesday, February 20, 2018
January 17, 2018 -- The Regular Trustees and the Property Trustee of Deutsche Bank Contingent Capital Trust III have been notified that on February 20, 2018, Deutsche Bank AG will redeem its Initial Debt Securities and Deutsche Bank Contingent Capital LLC III will redeem its Class B Preferred Securities. We therefore hereby give notice that subject to receipt of the Redemption Price in full by the Property Trustee, the 79,000,000 7.60% Noncumulative Trust Preferred Securities having an aggregate liquidation preference amount of US$ 1,975,000,000, issued by Deutsche Bank Contingent Capital Trust III with an issue date of February 20, 2008, will be redeemed on February 20, 2018 at their liquidation preference amount of US$ 25 per Trust Preferred Security plus any accrued and unpaid capital payments for the current payment period to but excluding the redemption date. All regulatory preconditions are met. ____________ This security is possibly subject to an early call as a result of the occurrence of a Company Special Redemption Event (see prospectus for further information) which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet. ____________ 3/28/2008 -- Deutsche Bank has elected to qualify the following Contingent Capital Transactions as Tier 1 capital:
Deutsche Bank Contingent Capital Trust II (ISIN: US25153X2080)
Deutsche Bank Contingent Capital Trust III (ISIN: US25154A1080)
The effect of such qualification is that the distributions on the securities will be made on a non-cumulative rather than a cumulative basis from the next payment date and that the securities will rank pari passu with Deutsche Bank's other hybrid Tier 1 securities. Distributions will continue to be paid at the same rate, namely 6.55% and 7.60% respectively. The rationale for the qualification is to increase the capital base to support the core capital ratio and to accommodate asset growth.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Deutsche Bank Contingent Capital Trust III, 7.60% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Deutsche Bank AG (NYSE: DB) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 2/20/2018 on any payment date at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 7.60% ($1.90) per annum are paid quarterly on 2/20, 5/20, 8/20 & 11/20 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Capital Payments will be cumulative subject to the issuer's Tier 1 Qualification Election status, unless and until the Bank elects, prior to 2/20/2013, to exercise its right to require the Trust and the Company to change specified terms of the Trust Preferred Securities and the Class B Preferred Securities so that it can treat the Class B Preferred Securities as consolidated Tier 1 regulatory capital. After that election, if any, Capital Payments will be non-cumulative. See page S-7 of the prospectus for further information on the Tier 1 Election process. Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-66 of the prospectus for further information). The trust's assets consist of the 7.60% Class B Preferred Securities with have no stated maturity and which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (DB)
IPO - 2/14/2008 - 70.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: DBKCP Changed: 2/29/2008
Market Value $1.8 Billion
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: 60262 Frankfurt am Main Germany |
| Main Phone Number |
+49-69-910-00 |
| Fax Number |
+49-69-910-34225 |
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Inv Rel Phone Number
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+49-69-910-35395 |
| Address and Phone Numbers |
| U.S. Representative |
N.A. |
| Address: 31 West 52nd Street, 29th Floor, New York, NY 10019 |
| Main Phone Number |
212-469-7125 |
| Fax Number |
212-469-7322 |
| Investor Relations
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212-469-7125
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Toll Free Phone Number |
Unknown |
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