FWP 1 dbcctv-fwp_0502.htm

Filed Pursuant to Rule 433

Registration Statement No. 333-137902

May 1, 2008


 

Deutsche Bank Contingent Capital Trust V

Final Terms and Conditions as of May 1, 2008

 

 

Issuer:

Deutsche Bank Contingent Capital Trust V

Securities:

8.05% Cumulative and Noncumulative Trust Preferred Securities

Guarantor:

Full and unconditional guarantees of Deutsche Bank AG on a subordinated basis as set forth in the preliminary prospectus supplement dated April 30, 2008

Size:

44,000,000 trust preferred securities ($1,100,000,000)

Overallotment Option:

Yes (15 days), 6,600,000 trust preferred securities ($165,000,000)

Expected Ratings:

Aa3/A+/A+ (Moody’s/S&P/Fitch)(1)

Maturity Date:

Perpetual

Capital Payments:

8.05% per annum on the liquidation preference amount of $25 per trust preferred security

Type of Distributions:

Cumulative unless and until the first day of any payment period in which Deutsche Bank AG elects to qualify any portion of the trust preferred securities as Tier 1 regulatory capital, and noncumulative with respect to such portion for the then current payment period and all subsequent payment periods. Deutsche Bank AG may elect to so qualify, on one or more occasions prior to June 30, 2013, all or a percentage of the trust preferred securities amounting to at least 10% of the liquidation preference amount or an integral multiple thereof. The election may be done only in increments of 10%

1st Coupon:

June 30, 2008

Payment Dates:

Quarterly on the 30th of March, June, September and December

Optional Redemption:

At issuer’s option, on any distribution date on or after June 30, 2018 in connection with redemption of underlying Class B preferred securities at $25 per trust preferred security or at any time in the event of a tax or regulatory event

Liquidation Preference
Amount / Par:

$25 per trust preferred security

Trade Date:

May 1, 2008

Settle:

May 9, 2008 (T+6)

Format:

SEC Registered

Clearing/Settlement:

DTC, including participants Euroclear and Clearstream

Initial Public Offering Price:

$25 per trust preferred security

Joint Book-Running Managers:

Deutsche Bank Securities, Citi, Merrill Lynch & Co. (Physical Books) and Wachovia Securities

Senior Co-Managers:

Banc of America Securities LLC, Morgan Stanley and UBS Investment Bank

Co-Managers:

Morgan Keegan & Company, Inc., SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC

CUSIP/ISIN:

25150L 108 / US25150L1089

_____________________

(1)

An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such materials and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the trust preferred securities should be evaluated independently from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency.

 

  

This communication is intended for the sole use of the person to whom it is provided by us. The issuer has filed a registration statement including a prospectus with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Deutsche Bank Securities Inc. toll free at 1-866-217-9821, Citigroup Global Markets Inc. toll free at 1-877-858-5407, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-866-500-5408 or Wachovia Capital Markets, LLC toll-free at 1-800-326-5897.