Deutsche Bank Files Prospectus Supplement

TL;DR

DB filing 424B2 on 3/30/26 - looks like they're prepping to sell more stock/bonds.

AI Summary

Deutsche Bank Aktiengesellschaft filed a 424B2 prospectus supplement on March 30, 2026, related to the registration statement declared effective on March 27, 2026. This filing pertains to the potential offering of securities, though specific details on the securities, amounts, or pricing are not provided in this document.

Why It Matters

This filing indicates Deutsche Bank is preparing to offer new securities, which could impact its capital structure and stock price.

Risk Assessment

Risk Level: low — This is a standard prospectus supplement filing, not indicating immediate financial distress or significant new risks.

Key Players & Entities

• DEUTSCHE BANK AKTIENGESELLSCHAFT (company) — Filer
• 0000950103-26-004867 (filing_id) — SEC Accession Number
• 2026-03-30 (date) — Filing Date
• 333-278331 (registration_number) — File Number

FAQ

Key Financial Figures

• $1,000,000 — Rule 424 ( b )( 2 ) Deutsche Bank AG $1,000,000 5.50% Fixed Rate Callable Senior Debt F
• $1,000 — er. · Minimum denominations of $1,000 (the “ Principal Amount ”)
• $1,000.00 — ons (2) Proceeds to Us (2) Per Note $1,000.00 $26.00 $974.00 Total $1,000,000.00
• $26.00 — oceeds to Us (2) Per Note $1,000.00 $26.00 $974.00 Total $1,000,000.00 $26,00
• $974.00 — o Us (2) Per Note $1,000.00 $26.00 $974.00 Total $1,000,000.00 $26,000.00 $97
• $1,000,000.00 — te $1,000.00 $26.00 $974.00 Total $1,000,000.00 $26,000.00 $974,000.00 (1) The pric
• $26,000.00 — $26.00 $974.00 Total $1,000,000.00 $26,000.00 $974,000.00 (1) The price to public
• $974,000.00 — .00 Total $1,000,000.00 $26,000.00 $974,000.00 (1) The price to public for an eligib

Filing Documents

• dp244446_424b2-e423.htm (424B2) — 102KB
• dp244446_exfilingfees.htm (EX-FILING FEES) — 5KB
• image_001.gif (GRAPHIC) — 2KB
• 0000950103-26-004867.txt ( ) — 202KB
• dp244446_exfilingfees_htm.xml (XML) — 2KB

From the Filing

Pricing Supplement No. E423 To prospectus supplement dated April 26, 2024 and prospectus dated April 26, 2024 Registration Statement No . 333-278331 Rule 424 ( b )( 2 ) Deutsche Bank AG $1,000,000 5.50% Fixed Rate Callable Senior Debt Funding Notes due March 30, 2051 General · The notes pay interest annually in arrears at a fixed rate per annum, as specified below. We may, in our sole discretion, redeem the notes in whole, but not in part, on the Optional Redemption Dates specified below. All payments on the notes, including interest payments and the repayment of principal at maturity, are · Unsecured, unsubordinated senior preferred obligations of Deutsche Bank AG due March 30, 2051 · The notes are intended to qualify as eligible liabilities for the minimum requirement for own funds and eligible liabilities of the Issuer. · Minimum denominations of $1,000 (the “ Principal Amount ”) and integral multiples in excess thereof · The notes priced on March 27, 2026 (the “ Trade Date ”) and are expected to settle on March 30, 2026 (the “ Settlement Date ”). Delivery of the notes in book-entry form only will be made through The Depository Trust Company (“ DTC ”). Key Terms Issuer: Deutsche Bank AG Issue Price: 100.00% Interest Rate: 5.50% per annum, payable annually in arrears on each Interest Payment Date, based on an unadjusted 30/360 day count convention. Interest Payment Dates: Annually, on the 30th calendar day of each March, commencing on March 30, 2027 and ending on the Maturity Date or Optional Redemption Date, if applicable. If any scheduled Interest Payment Date is not a business day, the interest will be paid on the first following day that is a business day. Notwithstanding the foregoing, such interest will be paid with the full force and effect as if made on such scheduled Interest Payment Date, and no adjustment will be made to the amount of interest to be paid. Optional Redemption: We have the right to redeem the notes in our sole discretion in whole, but not in part, on the Optional Redemption Dates, at 100% of the Principal Amount together with any accrued but unpaid interest by giving not less than 5 business days’ prior notice, subject to regulatory approval. Optional Redemption Dates: Semi-annually, on the 30th calendar day of each March and September, commencing on March 30, 2031 and ending on September 30, 2050. Trade Date: March 27, 2026 Settlement Date: March 30, 2026 Maturity Date: March 30, 2051 Listing: None CUSIP / ISIN: 25161F4H8 / US25161F4H81 Investing in the notes involves a number of risks . See “ Risk Factors ” beginning on page PS – 6 of the accompanying prospectus supplement and page 20 of the accompanying prospectus and “ Selected Risk Considerations ” beginning on page PS – 5 of this pricing supplement . By acquiring the notes , you will be bound by and will be deemed irrevocably to consent to the imposition of any Resolution Measure ( as defined below ) by the competent resolution authority , which may include the write down of all , or a portion , of any payment on the notes or the conversion of the notes into ordinary shares or other instruments of ownership . If any Resolution Measure becomes applicable to us , you may lose some or all of your investment in the notes . Please see “ Resolution Measures” beginning on page 75 in the accompanying prospectus and “Resolution Measures and Deemed Agreement ” on page PS – 2 of this pricing supplement for more information . Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying prospectus supplement or prospectus. Any representation to the contrary is a criminal offense. Price to Public (1) Discounts and Commissions (2) Proceeds to Us (2) Per Note $1,000.00 $26.00 $974.00 Total $1,000,000.00 $26,000.00 $974,000.00 (1) The price to public for an eligible institutional investor and an investor purchasing the notes in a fee-based advisory account will vary based on then-current market conditions and the negotiated price determined at the time of each sale; provided, however, the price to public for such investors will not be less than $974.00 per note and will not be more than $1,000 per note. The price to public for such investors reflects a foregone selling concession with respect to such sales as described below. The total price to public in the table above assumes a price to public of $1,000 per note for each note sold in this offering. (2) Deutsche Bank Securities Inc. (“ DBSI ”) will receive discounts and commissions of up to $26.00 per note, and from such agent discount will allow selected dealers a selling concession of up to $26.00

View Full Filing

View this 424B2 filing on SEC EDGAR