Deutsche Bank AG prices preliminary Buffer Autocallable Securities linked to S&P 500 Index, due September 30, 2031
Deutsche Bank AG filed a preliminary pricing supplement (424B2) for Buffer Autocallable Securities linked to the S&P 500 Index, with an expected trade date of September 28, 2026, settlement date of September 30, 2026, and maturity date of September 30, 2031. The securities carry a $10 face amount, 100% participation rate, 7.95%–8.95% call return range (actual set on trade date), 100% autocall barrier, 75% downside threshold, and 25% buffer. Per-security price to public is $10.00, with $0.25 discounts/commissions...
Key takeaways
Product structure: Buffer Autocallable Securities linked to the S&P 500 Index (SPX), 5-year term, $10 face amount, unsecured senior preferred obligations of Deutsche Bank AG.
Call feature: Automatic call if underlying closes at or above the 100% autocall barrier on October 5, 2027; call return range of 7.95%–8.95% (actual set on Trade Date).
Downside protection: 25% buffer with a 75% downside threshold; investor is exposed 1-for-1 to declines beyond the buffer at maturity.
Pricing: $10.00 price to public; $0.25 discounts and commissions per security; $9.75 proceeds to issuer; CUSIP 25160U783 / ISIN US25160U7836.
Issuer estimated value: approximately $9.672–$9.838 per $10.00 face amount on the Trade Date, below the issue price.
Distribution: DBSI (Deutsche Bank Securities Inc., affiliate of issuer) and UBS Financial Services Inc. act as agents; FINRA Rule 5121 distribution-of-affiliate-securities framework applies.
Resolution risk: Securities subject to potential German/European Resolution Measures, including bail-in write-down or conversion into ordinary shares.
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