Examples of Additional Tier 1 Notes in a sentence
Includes Additional Tier 1 Notes, which constitute unsecured and subordinated notes of Deutsche Bank and are classified as equity in accordance with IFRS.
The coupons paid on Additional Tier 1 Notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation in accordance with IAS 33.
The transaction included the offering of the € 1.75 billion Undated Non-cumulative Fixed to Reset Rate Additional Tier 1 Notes (the “Euro AT1 Notes”), the £ 650 million Undated Non-cumulative Fixed to Reset Rate Additional Tier 1 Notes (the “GBP AT1 Notes”) and the $ 1.25 billion Undated Non-cumulative Fixed to Reset Rate Additional Tier 1 Notes (the “USD AT1 Notes” and, together with the Euro AT1 Notes and the GBP AT1 Notes, the “AT1 Notes”) which were issued by Deutsche Bank in May 2014.
Earnings were adjusted by € 276 million and € 228 million net of tax for the coupons paid on Additional Tier 1 Notes in April 2016 and April 2015, respectively.
The rights and claims of Noteholders in respect of, or arising under, the Additional Tier 1 Notes are subordinated in the manner described in Condition 3.3(b).
A cancellation of interest pursuant to Condition 8.1 (Non- payment of interest) does not constitute an Event of Default under the Additional Tier 1 Notes for any purpose.Any actual or anticipated cancellation of interest on the Additional Tier 1 Notes will likely have an adverse effect on the market price of the Additional Tier 1 Notes.
In terms of Regulation 38(11)(b) of the Regulations Relating to Banks, the Issuer must at all times have full discretion regarding any payment of interest on the Additional Tier 1 Notes.
Investors in the Additional Tier 1 Notes may not be able to assess or predict accurately the proximity of the risk of discretionary payments on the Additional Tier 1 Notes being prohibited from time to time as a result of the operation of Article 141 or Article 141b of the CRD IV Directive or Article 16a of the BRRD and, if relevant, in other similar payment restriction provision(s) under the Relevant Regulations.
Accordingly, a payment in respect of the Additional Tier 1 Notes will not be due and payable to the extent that the Issuer is not solvent (as determined pursuant to Indian law) at the time of such payment or would not be solvent (as determined pursuant to Indian law) immediately after such payment.
In the case of a Series of Additional Tier 1 Notes, the Notes shall not bear interest to the extent the interest in respect of the relevant period is cancelled pursuant to Condition 6(e).