Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Sub.Fixed and Floating Rate Medium Term Notes

Deutsche Bank AG, New Zealand Branch
Subordinated Fixed and Floating Rate Medium Term Notes

Issuer: Deutsche Bank AG, New Zealand Branch
Issuer Rating: AA- / Aa3
Instrument Rating: A+/A1
Documentation: Investment Statement
New Zealand Medium Term Note Deed Poll
Structure: 10 year Subordinated Fixed & Floating Rate Medium Term Notes. The Notes may be redeemed at the option of the Issuer on any Interest Payment Date on or after 5 years (commencing on 16 June 2009).
Status: The obligation to repay principal will be an unsecured and
subordinated obligation of the Issuer and will rank at least pari passu
with all other unsecured and subordinated obligations of the Issuer
having a fixed maturity date.
The obligation to pay interest will be an unsecured and unsubordinated obligation of the Issuer and will rank at least pari passu with all other unsecured and unsubordinated obligations of the Issuer.
Maturity : 16 June 2014
Call Date : 16 June 2009 and each subsequent interest payment date
Launch Date : 11 June 2004
Pricing Date : 3 pm on 14 June 2004
Settlement : 16 June 2004
Total Volume : NZD 300,000,000
Minimum Holding : NZD 10,000
Denominations : NZD 10,000
Governing Law : The laws in force in New Zealand
Registrar : Computershare Services Limited
Business Days : Auckland/Wellington
Listing : None
Arranger: Deutsche Bank New Zealand Limited
Lead Manager : Deutsche Bank New Zealand Limited


Other Terms And
Conditions: Please refer to the Pricing Supplement and other programme
documentation for full Terms and Conditions. In the event of any
inconsistency between the Pricing Supplement and the other
programme documentation, the Pricing Supplement will prevail.

Issue Margin : 42 bps

Approved Issuer Levy (AIL) : If the securities are held by non New Zealand residents, any AIL (currently 2% of coupon) will be deducted from the coupons paid unless the investor nominates to have Non Resident Withholding Tax deducted instead.
FLOATING RATE TRANCHE
Volume : NZD 71,500,000
Benchmark: 3 Month BKBM
Coupon Dates : Each 16 March, 16 June, 16 September, and 16 December until maturity. Commencing 16 September 2004
Coupon : 3 month BKBM + issue margin until and including 16 June 2009 when the coupon steps up by 50 bps
Business Day Convention : Following Business Day
Day Count Basis : Actual/365

FIXED RATE TRANCHE
Volume : NZD228,500,000
Fixed Rate Coupon: 7.14% s.a.
Coupon Dates : Each 16 June, and 16 December until and including 16 June 2009 or such later maturity date if if not called.
Coupon : Fixed rate, determined from the benchmark on the rateset date plus the issue margin, until and including 16 June 2009. If the issue is not called on 16 June 2009 the instrument will convert to a floating rate note paying a coupon comprising of BKBM + initial margin plus the step up margin of 0.50%.
Re-offer Capital Price : 100%
Accrued Interest : 0%
Re-Offer Gross Price : 100%
Business Day Convention : Following Business Day
Day Count Basis : RBNZ Bond Basis

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news