[424B5] SenesTech, Inc. Prospectus Supplement (Debt Securities)
Deutsche Bank AG is offering $3.0 million of 5.00% Fixed-Rate Callable Senior Debt Funding Notes maturing on 29 June 2029. The notes are issued at 100% of principal (minimum 99.65% for certain institutional or fee-based accounts) in minimum denominations of $1,000. Interest is paid annually in arrears each 30 June, calculated on a 30/360 basis. The bank may, at its sole discretion and subject to regulatory approval, redeem the notes at par in whole (not in part) on any semi-annual Optional Redemption Date beginning 30 June 2026 and ending 30 December 2028.
The securities are unsecured, unsubordinated senior preferred obligations intended to qualify as eligible liabilities for the EU Minimum Requirement for Own Funds and Eligible Liabilities (MREL). They are not FDIC-insured and carry typical Deutsche Bank credit risk. As bail-in eligible instruments, holders explicitly consent to possible Resolution Measures under EU/ German banking law, including write-down to zero or conversion into equity should the Single Resolution Board deem the bank non-viable.
Key economics
- Issue/Settlement dates: 26 June 2025 / 30 June 2025
- Principal amount: $3,000,000
- Gross proceeds to issuer: $2,994,000 after 0.35% maximum selling concession ($3.50 per note)
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- No stock-exchange listing; book-entry only via DTC
Primary risks include issuer credit risk, discretionary early redemption, interest-rate reinvestment risk if called, and potential bail-in loss under EU resolution rules. The small size and standard terms make the issuance largely immaterial to Deutsche Bank鈥檚 capital structure, but investors should assess whether the 5% fixed coupon adequately compensates for the credit and structural risks.
Deutsche Bank AG offre 3,0 milioni di dollari in Note di Debito Senior Callable a Tasso Fisso del 5,00% con scadenza il 29 giugno 2029. Le note sono emesse al 100% del valore nominale (minimo 99,65% per alcuni conti istituzionali o a commissione) con taglio minimo di 1.000 dollari. Gli interessi sono pagati annualmente in arretrato ogni 30 giugno, calcolati su base 30/360. La banca pu貌, a sua esclusiva discrezione e previa approvazione regolamentare, rimborsare le note a valore nominale integralmente (non parzialmente) in qualsiasi Data di Rimborso Opzionale semestrale dal 30 giugno 2026 al 30 dicembre 2028.
Questi titoli sono obbligazioni senior preferenziali non garantite e non subordinate, pensate per qualificarsi come passivit脿 eleggibili ai fini del Requisito Minimo UE per Fondi Propri e Passivit脿 Eleggibili (MREL). Non sono assicurati dalla FDIC e comportano il rischio di credito tipico di Deutsche Bank. Essendo strumenti eleggibili al bail-in, i detentori accettano esplicitamente possibili Misure di Risoluzione secondo la normativa bancaria UE/tedesca, inclusa la possibilit脿 di azzeramento o conversione in capitale azionario qualora il Single Resolution Board dichiari la banca non solvibile.
Principali caratteristiche economiche
- Date di emissione/liquidazione: 26 giugno 2025 / 30 giugno 2025
- Importo nominale: 3.000.000 dollari
- Proventi lordi per l鈥檈mittente: 2.994.000 dollari dopo una commissione massima dello 0,35% (3,50 dollari per nota)
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- Non quotati in borsa; solo registrazione elettronica tramite DTC
I rischi principali comprendono il rischio di credito dell鈥檈mittente, il rimborso anticipato discrezionale, il rischio di reinvestimento degli interessi in caso di richiamo e la possibile perdita da bail-in secondo le regole UE di risoluzione. La dimensione contenuta e i termini standard rendono l鈥檈missione poco rilevante per la struttura patrimoniale di Deutsche Bank, ma gli investitori devono valutare se il coupon fisso al 5% compensi adeguatamente i rischi creditizi e strutturali.
Deutsche Bank AG ofrece 3,0 millones de d贸lares en Notas de Deuda Senior Callable a Tasa Fija del 5,00% con vencimiento el 29 de junio de 2029. Las notas se emiten al 100% del principal (m铆nimo 99,65% para ciertas cuentas institucionales o basadas en comisiones) con denominaciones m铆nimas de 1.000 d贸lares. Los intereses se pagan anualmente a posteriori cada 30 de junio, calculados sobre base 30/360. El banco puede, a su sola discreci贸n y sujeto a aprobaci贸n regulatoria, redimir las notas al valor nominal en su totalidad (no parcialmente) en cualquier Fecha Opcional de Redenci贸n semestral desde el 30 de junio de 2026 hasta el 30 de diciembre de 2028.
Los valores son obligaciones senior preferentes no garantizadas y no subordinadas, dise帽adas para calificar como pasivos elegibles bajo el Requisito M铆nimo de Fondos Propios y Pasivos Elegibles (MREL) de la UE. No est谩n asegurados por la FDIC y conllevan el riesgo crediticio habitual de Deutsche Bank. Al ser instrumentos elegibles para bail-in, los tenedores aceptan expl铆citamente posibles Medidas de Resoluci贸n bajo la legislaci贸n bancaria de la UE/Alemania, incluyendo la reducci贸n a cero o conversi贸n en capital si el Single Resolution Board determina que el banco no es viable.
Aspectos econ贸micos clave
- Fechas de emisi贸n/liquidaci贸n: 26 de junio de 2025 / 30 de junio de 2025
- Monto principal: 3.000.000 d贸lares
- Ingresos brutos para el emisor: 2.994.000 d贸lares tras una concesi贸n m谩xima de venta del 0,35% (3,50 d贸lares por nota)
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- No cotizados en bolsa; solo registro electr贸nico v铆a DTC
Los riesgos principales incluyen el riesgo crediticio del emisor, la redenci贸n anticipada discrecional, el riesgo de reinversi贸n de intereses si se llama, y la posible p茅rdida por bail-in bajo las normas de resoluci贸n de la UE. El tama帽o reducido y los t茅rminos est谩ndar hacen que la emisi贸n sea poco relevante para la estructura de capital de Deutsche Bank, pero los inversores deben evaluar si el cup贸n fijo del 5% compensa adecuadamente los riesgos crediticios y estructurales.
霃勳澊觳措癌韥� AG电� 5.00% 瓿犾爼 鞚挫瀽鞙� 旖� 臧�電� 靹犾垳鞙� 毂勲 鞛愱笀 臁半嫭 雲疙姼毳� 3氚彪 雼煬 攴滊搿� 2029雲� 6鞗� 29鞚� 毵岅赴 臁瓣贝鞙茧 鞝滉车頃橁碃 鞛堨姷雼堧嫟. 鞚� 雲疙姼霌れ潃 鞗愱笀鞚� 100% (鞚茧秬 旮瓣磤 霕惖鐢 靾橃垬耄� 旮半皹 瓿勳电� 斓滌唽 99.65%)搿� 斓滌唽 雼渼 1,000雼煬搿� 氚滍枆霅╇媹雼�. 鞚挫瀽电� 毵る厔 6鞗� 30鞚检棎 頉勲秷搿� 歆�旮�霅橂┌ 30/360 氚╈嫕鞚� 鞝侅毄頃� 瓿勳偘霅╇媹雼�. 鞚�頄夓潃 雼弲 鞛焿瓿� 攴滌牅 鞀轨澑 頃橃棎 2026雲� 6鞗� 30鞚茧秬韯� 2028雲� 12鞗� 30鞚缄箤歆� 毵� 氚橁赴 靹犿儩鞝� 靸來櫂鞚�鞐� 鞝勳泊(攵�攵� 攵堦皜) 鞗愱笀 靸來櫂鞚� 鞎‰┐臧�搿� 靸來櫂頃� 靾� 鞛堨姷雼堧嫟.
鞚� 歃濌秾鞚� 氍措嫶氤�, 牍勴泟靾滌渼 靹犾垳鞙� 鞖办劆毂勲搿滌劀 EU 斓滌唽 鞛愱赴鞛愲掣 氚� 鞝侁博 攵�毂� 鞖旉贝(MREL)鞚� 於╈”頃橁赴 鞙勴暅 鞝侁博 攵�毂勲 靹り硠霅橃棃鞀惦媹雼�. FDIC 氤错棙 鞝侅毄 雽�靸侅澊 鞎勲媹氅� 霃勳澊觳措癌韥潣 鞚茧皹鞝侅澑 鞁犾毄 鞙勴棙鞚� 雮错彫頃╇媹雼�. 氩犾澕鞚� 雽�靸� 靸來拡鞙茧靹� 氤挫湢鞛惖鐢 EU/霃呾澕 鞚�頄夒矔鞐� 霐半ジ 頃搓舶 臁办箻鞐� 氇呾嫓鞝侅溂搿� 霃欖潣頃橂┌, 雼澕 頃搓舶 鞙勳洂須岅皜 鞚�頄夓潉 攵�鞁る 韺愲嫧頃� 瓴届毎 鞗愱笀 鞝勳暋 靻愳嫟 霕惖鐢 欤检嫕 鞝勴櫂鞚� 氚滌儩頃� 靾� 鞛堨姷雼堧嫟.
欤检殧 瓴届牅 臁瓣贝
- 氚滍枆/瓴办牅鞚�: 2025雲� 6鞗� 26鞚� / 2025雲� 6鞗� 30鞚�
- 鞗愱笀 齑濎暋: 3,000,000雼煬
- 氚滍枆鞛� 靾滌垬鞚�: 斓滊寑 0.35% 韺愲Г 靾橃垬耄�(雲疙姼雼� 3.50雼煬) 瓿奠牅 頉� 2,994,000雼煬
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- 歃濌秾瓯半灅靻� 靸侅灔 鞐嗢潓; DTC毳� 韱淀暅 鞝勳瀽霌彪毵� 臧�電�
欤检殧 鞙勴棙鞚� 氚滍枆鞛� 鞁犾毄 鞙勴棙, 鞛勳潣 臁瓣赴 靸來櫂, 靸來櫂 鞁� 鞚挫瀽 鞛埇鞛� 鞙勴棙 氚� EU 頃搓舶 攴滌爼鞐� 霐半ジ 氩犾澕鞚� 靻愳嫟 臧�電レ劚鞚� 韽暔頃╇媹雼�. 靻岅窚氇� 氚滍枆瓿� 響滌 臁瓣贝鞙茧 霃勳澊觳措癌韥� 鞛愲掣 甑“鞐� 氙胳箻电� 鞓來枼鞚� 氙鸽頃橃毵�, 韴瀽鞛惖鐢 5% 瓿犾爼 炜犿彴鞚� 鞁犾毄 氚� 甑“鞝� 鞙勴棙鞚� 鞝侅爤頌� 氤挫儊頃樀鐢歆� 韽夑皜頃挫暭 頃╇媹雼�.
Deutsche Bank AG propose 3,0 millions de dollars de notes de financement senior 脿 taux fixe de 5,00% et remboursables sur option arrivant 脿 茅ch茅ance le 29 juin 2029. Les notes sont 茅mises 脿 100% du principal (minimum 99,65% pour certains comptes institutionnels ou 脿 frais) avec une valeur nominale minimale de 1 000 dollars. Les int茅r锚ts sont pay茅s annuellement 脿 terme 茅chu chaque 30 juin, calcul茅s selon une base 30/360. La banque peut, 脿 sa seule discr茅tion et sous r茅serve d鈥檃pprobation r茅glementaire, rembourser les notes 脿 leur valeur nominale en totalit茅 (et non partiellement) 脿 toute Date de Remboursement Optionnelle semestrielle entre le 30 juin 2026 et le 30 d茅cembre 2028.
Les titres sont des obligations senior pr茅f茅rentielles non garanties et non subordonn茅es destin茅es 脿 锚tre 茅ligibles aux exigences minimales de fonds propres et passifs 茅ligibles (MREL) de l鈥橴E. Ils ne sont pas assur茅s par la FDIC et comportent le risque de cr茅dit habituel de Deutsche Bank. En tant qu鈥檌nstruments 茅ligibles au bail-in, les d茅tenteurs consentent explicitement 脿 d鈥櫭﹙entuelles mesures de r茅solution selon la l茅gislation bancaire UE/allemande, incluant une d茅pr茅ciation totale ou une conversion en actions si le Single Resolution Board juge la banque non viable.
Principaux 茅l茅ments 茅conomiques
- Dates d鈥櫭﹎ission/r猫glement : 26 juin 2025 / 30 juin 2025
- Montant principal : 3 000 000 dollars
- Produit brut pour l鈥櫭﹎etteur : 2 994 000 dollars apr猫s une commission maximale de 0,35% (3,50 dollars par note)
- CUSIP/ISIN : 25161FJF6 / US25161FJF62
- Non cot茅s en bourse ; inscription 茅lectronique uniquement via DTC
Les principaux risques comprennent le risque de cr茅dit de l鈥櫭﹎etteur, le remboursement anticip茅 discr茅tionnaire, le risque de r茅investissement des int茅r锚ts en cas de remboursement anticip茅, ainsi que la perte potentielle en cas de bail-in selon les r猫gles de r茅solution de l鈥橴E. La taille modeste et les conditions standard rendent cette 茅mission peu significative pour la structure de capital de Deutsche Bank, mais les investisseurs doivent 茅valuer si le coupon fixe de 5% compense ad茅quatement les risques de cr茅dit et structurels.
Deutsche Bank AG bietet 3,0 Millionen US-Dollar in Form von 5,00% festverzinslichen, k眉ndbaren Senior Debt Funding Notes mit F盲lligkeit am 29. Juni 2029 an. Die Notes werden zu 100% des Nennwerts (mindestens 99,65% f眉r bestimmte institutionelle oder geb眉hrenbasierte Konten) in Mindestst眉ckelungen von 1.000 US-Dollar ausgegeben. Die Zinsen werden j盲hrlich nachtr盲glich jeweils am 30. Juni auf Basis 30/360 gezahlt. Die Bank kann nach eigenem Ermessen und vorbehaltlich beh枚rdlicher Genehmigung die Notes ab dem 30. Juni 2026 bis zum 30. Dezember 2028 an jedem halbj盲hrlichen Optionalen R眉ckzahlungstermin ganz (nicht teilweise) zum Nennwert zur眉ckzahlen.
Die Wertpapiere sind ungesicherte, nicht nachrangige vorrangige Verbindlichkeiten, die als zul盲ssige Verbindlichkeiten f眉r die EU-Mindestanforderung an Eigenmittel und ber眉cksichtigungsf盲hige Verbindlichkeiten (MREL) qualifizieren sollen. Sie sind nicht FDIC-versichert und tragen das typische Kreditrisiko der Deutschen Bank. Als bail-in-f盲hige Instrumente stimmen die Inhaber ausdr眉cklich m枚glichen 础产飞颈肠办濒耻苍驳蝉尘补脽苍补丑尘别苍 nach EU-/deutschem Bankenrecht zu, einschlie脽lich einer Abschreibung auf null oder einer Umwandlung in Eigenkapital, falls der Single Resolution Board die Bank als nicht 眉berlebensf盲hig einstuft.
Wesentliche wirtschaftliche Eckdaten
- Emissions-/Abwicklungstermine: 26. Juni 2025 / 30. Juni 2025
- Nominalbetrag: 3.000.000 US-Dollar
- Bruttoerl枚se f眉r den Emittenten: 2.994.000 US-Dollar nach maximaler Verkaufsprovision von 0,35% (3,50 US-Dollar pro Note)
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- Keine B枚rsennotierung; nur Buchung 眉ber DTC
Die Hauptrisiken umfassen Emittenten-Kreditrisiko, diskretion盲re vorzeitige R眉ckzahlung, Wiederanlagerisiko bei Zinszahlung im Falle eines Calls sowie ein m枚gliches Bail-in nach EU-Abwicklungsregeln. Aufgrund der geringen Gr枚脽e und der Standardbedingungen ist die Emission f眉r die Kapitalstruktur der Deutschen Bank weitgehend unerheblich, jedoch sollten Investoren pr眉fen, ob der feste Kupon von 5% die Kredit- und Strukturierungsrisiken angemessen kompensiert.
- 5.00% fixed coupon offers a moderate spread over comparable 4-year USD benchmarks.
- MREL-eligible status marginally supports Deutsche Bank鈥檚 resolution buffer.
- Senior preferred ranking sits above subordinated debt, providing better recovery prospects than capital instruments.
- Issuer call option from year 1 caps potential upside and introduces reinvestment risk.
- Bail-in/Resolution Measure provisions allow write-down or conversion, elevating structural risk versus traditional senior bonds.
- Unsecured exposure to Deutsche Bank credit without FDIC or other guarantee.
- Illiquidity risk due to small $3 million issue size and no exchange listing.
Insights
TL;DR: 5% coupon attractive versus USD swaps, but call option and bail-in clause limit upside.
The 5.00% coupon is roughly 170-190 bp wide of the USD 4-year swap rate (as of late-June 2025), offering reasonable spread for a senior preferred Deutsche Bank exposure. However, the issuer-friendly call commencing in 12 months reduces the yield-to-worst to par call dates, translating to a yield just above 5% if redeemed early. Because the issue is small, secondary liquidity will likely be limited. Credit-wise, Deutsche Bank鈥檚 senior preferred debt is rated Baa2/BBB/A-, so the spread is broadly in line with comps. Yet, the BRRD bail-in language means these notes rank ahead of tier-2 but can still be written down or converted, adding non-negligible tail risk. Overall, risk-adjusted return is fair but not exceptional; investors seeking higher certainty of carry may prefer non-call structures.
TL;DR: MREL-eligible issuance modestly strengthens Deutsche Bank鈥檚 loss-absorbing stack; negligible balance-sheet impact.
Because the notes qualify as eligible liabilities under EU MREL rules, they incrementally enhance Deutsche Bank鈥檚 resolution buffer with senior preferred paper that can be bailed in ahead of senior unsecured deposits. The $3 million size, however, is de-minimis relative to Deutsche Bank鈥檚 鈧�1.3 trillion balance sheet and will not materially affect capital ratios. Regulatory call permissions underscore ongoing supervisory scrutiny. For portfolio managers, the filing signals continued optimization of the funding stack rather than a meaningful change in funding conditions.
Deutsche Bank AG offre 3,0 milioni di dollari in Note di Debito Senior Callable a Tasso Fisso del 5,00% con scadenza il 29 giugno 2029. Le note sono emesse al 100% del valore nominale (minimo 99,65% per alcuni conti istituzionali o a commissione) con taglio minimo di 1.000 dollari. Gli interessi sono pagati annualmente in arretrato ogni 30 giugno, calcolati su base 30/360. La banca pu貌, a sua esclusiva discrezione e previa approvazione regolamentare, rimborsare le note a valore nominale integralmente (non parzialmente) in qualsiasi Data di Rimborso Opzionale semestrale dal 30 giugno 2026 al 30 dicembre 2028.
Questi titoli sono obbligazioni senior preferenziali non garantite e non subordinate, pensate per qualificarsi come passivit脿 eleggibili ai fini del Requisito Minimo UE per Fondi Propri e Passivit脿 Eleggibili (MREL). Non sono assicurati dalla FDIC e comportano il rischio di credito tipico di Deutsche Bank. Essendo strumenti eleggibili al bail-in, i detentori accettano esplicitamente possibili Misure di Risoluzione secondo la normativa bancaria UE/tedesca, inclusa la possibilit脿 di azzeramento o conversione in capitale azionario qualora il Single Resolution Board dichiari la banca non solvibile.
Principali caratteristiche economiche
- Date di emissione/liquidazione: 26 giugno 2025 / 30 giugno 2025
- Importo nominale: 3.000.000 dollari
- Proventi lordi per l鈥檈mittente: 2.994.000 dollari dopo una commissione massima dello 0,35% (3,50 dollari per nota)
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- Non quotati in borsa; solo registrazione elettronica tramite DTC
I rischi principali comprendono il rischio di credito dell鈥檈mittente, il rimborso anticipato discrezionale, il rischio di reinvestimento degli interessi in caso di richiamo e la possibile perdita da bail-in secondo le regole UE di risoluzione. La dimensione contenuta e i termini standard rendono l鈥檈missione poco rilevante per la struttura patrimoniale di Deutsche Bank, ma gli investitori devono valutare se il coupon fisso al 5% compensi adeguatamente i rischi creditizi e strutturali.
Deutsche Bank AG ofrece 3,0 millones de d贸lares en Notas de Deuda Senior Callable a Tasa Fija del 5,00% con vencimiento el 29 de junio de 2029. Las notas se emiten al 100% del principal (m铆nimo 99,65% para ciertas cuentas institucionales o basadas en comisiones) con denominaciones m铆nimas de 1.000 d贸lares. Los intereses se pagan anualmente a posteriori cada 30 de junio, calculados sobre base 30/360. El banco puede, a su sola discreci贸n y sujeto a aprobaci贸n regulatoria, redimir las notas al valor nominal en su totalidad (no parcialmente) en cualquier Fecha Opcional de Redenci贸n semestral desde el 30 de junio de 2026 hasta el 30 de diciembre de 2028.
Los valores son obligaciones senior preferentes no garantizadas y no subordinadas, dise帽adas para calificar como pasivos elegibles bajo el Requisito M铆nimo de Fondos Propios y Pasivos Elegibles (MREL) de la UE. No est谩n asegurados por la FDIC y conllevan el riesgo crediticio habitual de Deutsche Bank. Al ser instrumentos elegibles para bail-in, los tenedores aceptan expl铆citamente posibles Medidas de Resoluci贸n bajo la legislaci贸n bancaria de la UE/Alemania, incluyendo la reducci贸n a cero o conversi贸n en capital si el Single Resolution Board determina que el banco no es viable.
Aspectos econ贸micos clave
- Fechas de emisi贸n/liquidaci贸n: 26 de junio de 2025 / 30 de junio de 2025
- Monto principal: 3.000.000 d贸lares
- Ingresos brutos para el emisor: 2.994.000 d贸lares tras una concesi贸n m谩xima de venta del 0,35% (3,50 d贸lares por nota)
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- No cotizados en bolsa; solo registro electr贸nico v铆a DTC
Los riesgos principales incluyen el riesgo crediticio del emisor, la redenci贸n anticipada discrecional, el riesgo de reinversi贸n de intereses si se llama, y la posible p茅rdida por bail-in bajo las normas de resoluci贸n de la UE. El tama帽o reducido y los t茅rminos est谩ndar hacen que la emisi贸n sea poco relevante para la estructura de capital de Deutsche Bank, pero los inversores deben evaluar si el cup贸n fijo del 5% compensa adecuadamente los riesgos crediticios y estructurales.
霃勳澊觳措癌韥� AG电� 5.00% 瓿犾爼 鞚挫瀽鞙� 旖� 臧�電� 靹犾垳鞙� 毂勲 鞛愱笀 臁半嫭 雲疙姼毳� 3氚彪 雼煬 攴滊搿� 2029雲� 6鞗� 29鞚� 毵岅赴 臁瓣贝鞙茧 鞝滉车頃橁碃 鞛堨姷雼堧嫟. 鞚� 雲疙姼霌れ潃 鞗愱笀鞚� 100% (鞚茧秬 旮瓣磤 霕惖鐢 靾橃垬耄� 旮半皹 瓿勳电� 斓滌唽 99.65%)搿� 斓滌唽 雼渼 1,000雼煬搿� 氚滍枆霅╇媹雼�. 鞚挫瀽电� 毵る厔 6鞗� 30鞚检棎 頉勲秷搿� 歆�旮�霅橂┌ 30/360 氚╈嫕鞚� 鞝侅毄頃� 瓿勳偘霅╇媹雼�. 鞚�頄夓潃 雼弲 鞛焿瓿� 攴滌牅 鞀轨澑 頃橃棎 2026雲� 6鞗� 30鞚茧秬韯� 2028雲� 12鞗� 30鞚缄箤歆� 毵� 氚橁赴 靹犿儩鞝� 靸來櫂鞚�鞐� 鞝勳泊(攵�攵� 攵堦皜) 鞗愱笀 靸來櫂鞚� 鞎‰┐臧�搿� 靸來櫂頃� 靾� 鞛堨姷雼堧嫟.
鞚� 歃濌秾鞚� 氍措嫶氤�, 牍勴泟靾滌渼 靹犾垳鞙� 鞖办劆毂勲搿滌劀 EU 斓滌唽 鞛愱赴鞛愲掣 氚� 鞝侁博 攵�毂� 鞖旉贝(MREL)鞚� 於╈”頃橁赴 鞙勴暅 鞝侁博 攵�毂勲 靹り硠霅橃棃鞀惦媹雼�. FDIC 氤错棙 鞝侅毄 雽�靸侅澊 鞎勲媹氅� 霃勳澊觳措癌韥潣 鞚茧皹鞝侅澑 鞁犾毄 鞙勴棙鞚� 雮错彫頃╇媹雼�. 氩犾澕鞚� 雽�靸� 靸來拡鞙茧靹� 氤挫湢鞛惖鐢 EU/霃呾澕 鞚�頄夒矔鞐� 霐半ジ 頃搓舶 臁办箻鞐� 氇呾嫓鞝侅溂搿� 霃欖潣頃橂┌, 雼澕 頃搓舶 鞙勳洂須岅皜 鞚�頄夓潉 攵�鞁る 韺愲嫧頃� 瓴届毎 鞗愱笀 鞝勳暋 靻愳嫟 霕惖鐢 欤检嫕 鞝勴櫂鞚� 氚滌儩頃� 靾� 鞛堨姷雼堧嫟.
欤检殧 瓴届牅 臁瓣贝
- 氚滍枆/瓴办牅鞚�: 2025雲� 6鞗� 26鞚� / 2025雲� 6鞗� 30鞚�
- 鞗愱笀 齑濎暋: 3,000,000雼煬
- 氚滍枆鞛� 靾滌垬鞚�: 斓滊寑 0.35% 韺愲Г 靾橃垬耄�(雲疙姼雼� 3.50雼煬) 瓿奠牅 頉� 2,994,000雼煬
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- 歃濌秾瓯半灅靻� 靸侅灔 鞐嗢潓; DTC毳� 韱淀暅 鞝勳瀽霌彪毵� 臧�電�
欤检殧 鞙勴棙鞚� 氚滍枆鞛� 鞁犾毄 鞙勴棙, 鞛勳潣 臁瓣赴 靸來櫂, 靸來櫂 鞁� 鞚挫瀽 鞛埇鞛� 鞙勴棙 氚� EU 頃搓舶 攴滌爼鞐� 霐半ジ 氩犾澕鞚� 靻愳嫟 臧�電レ劚鞚� 韽暔頃╇媹雼�. 靻岅窚氇� 氚滍枆瓿� 響滌 臁瓣贝鞙茧 霃勳澊觳措癌韥� 鞛愲掣 甑“鞐� 氙胳箻电� 鞓來枼鞚� 氙鸽頃橃毵�, 韴瀽鞛惖鐢 5% 瓿犾爼 炜犿彴鞚� 鞁犾毄 氚� 甑“鞝� 鞙勴棙鞚� 鞝侅爤頌� 氤挫儊頃樀鐢歆� 韽夑皜頃挫暭 頃╇媹雼�.
Deutsche Bank AG propose 3,0 millions de dollars de notes de financement senior 脿 taux fixe de 5,00% et remboursables sur option arrivant 脿 茅ch茅ance le 29 juin 2029. Les notes sont 茅mises 脿 100% du principal (minimum 99,65% pour certains comptes institutionnels ou 脿 frais) avec une valeur nominale minimale de 1 000 dollars. Les int茅r锚ts sont pay茅s annuellement 脿 terme 茅chu chaque 30 juin, calcul茅s selon une base 30/360. La banque peut, 脿 sa seule discr茅tion et sous r茅serve d鈥檃pprobation r茅glementaire, rembourser les notes 脿 leur valeur nominale en totalit茅 (et non partiellement) 脿 toute Date de Remboursement Optionnelle semestrielle entre le 30 juin 2026 et le 30 d茅cembre 2028.
Les titres sont des obligations senior pr茅f茅rentielles non garanties et non subordonn茅es destin茅es 脿 锚tre 茅ligibles aux exigences minimales de fonds propres et passifs 茅ligibles (MREL) de l鈥橴E. Ils ne sont pas assur茅s par la FDIC et comportent le risque de cr茅dit habituel de Deutsche Bank. En tant qu鈥檌nstruments 茅ligibles au bail-in, les d茅tenteurs consentent explicitement 脿 d鈥櫭﹙entuelles mesures de r茅solution selon la l茅gislation bancaire UE/allemande, incluant une d茅pr茅ciation totale ou une conversion en actions si le Single Resolution Board juge la banque non viable.
Principaux 茅l茅ments 茅conomiques
- Dates d鈥櫭﹎ission/r猫glement : 26 juin 2025 / 30 juin 2025
- Montant principal : 3 000 000 dollars
- Produit brut pour l鈥櫭﹎etteur : 2 994 000 dollars apr猫s une commission maximale de 0,35% (3,50 dollars par note)
- CUSIP/ISIN : 25161FJF6 / US25161FJF62
- Non cot茅s en bourse ; inscription 茅lectronique uniquement via DTC
Les principaux risques comprennent le risque de cr茅dit de l鈥櫭﹎etteur, le remboursement anticip茅 discr茅tionnaire, le risque de r茅investissement des int茅r锚ts en cas de remboursement anticip茅, ainsi que la perte potentielle en cas de bail-in selon les r猫gles de r茅solution de l鈥橴E. La taille modeste et les conditions standard rendent cette 茅mission peu significative pour la structure de capital de Deutsche Bank, mais les investisseurs doivent 茅valuer si le coupon fixe de 5% compense ad茅quatement les risques de cr茅dit et structurels.
Deutsche Bank AG bietet 3,0 Millionen US-Dollar in Form von 5,00% festverzinslichen, k眉ndbaren Senior Debt Funding Notes mit F盲lligkeit am 29. Juni 2029 an. Die Notes werden zu 100% des Nennwerts (mindestens 99,65% f眉r bestimmte institutionelle oder geb眉hrenbasierte Konten) in Mindestst眉ckelungen von 1.000 US-Dollar ausgegeben. Die Zinsen werden j盲hrlich nachtr盲glich jeweils am 30. Juni auf Basis 30/360 gezahlt. Die Bank kann nach eigenem Ermessen und vorbehaltlich beh枚rdlicher Genehmigung die Notes ab dem 30. Juni 2026 bis zum 30. Dezember 2028 an jedem halbj盲hrlichen Optionalen R眉ckzahlungstermin ganz (nicht teilweise) zum Nennwert zur眉ckzahlen.
Die Wertpapiere sind ungesicherte, nicht nachrangige vorrangige Verbindlichkeiten, die als zul盲ssige Verbindlichkeiten f眉r die EU-Mindestanforderung an Eigenmittel und ber眉cksichtigungsf盲hige Verbindlichkeiten (MREL) qualifizieren sollen. Sie sind nicht FDIC-versichert und tragen das typische Kreditrisiko der Deutschen Bank. Als bail-in-f盲hige Instrumente stimmen die Inhaber ausdr眉cklich m枚glichen 础产飞颈肠办濒耻苍驳蝉尘补脽苍补丑尘别苍 nach EU-/deutschem Bankenrecht zu, einschlie脽lich einer Abschreibung auf null oder einer Umwandlung in Eigenkapital, falls der Single Resolution Board die Bank als nicht 眉berlebensf盲hig einstuft.
Wesentliche wirtschaftliche Eckdaten
- Emissions-/Abwicklungstermine: 26. Juni 2025 / 30. Juni 2025
- Nominalbetrag: 3.000.000 US-Dollar
- Bruttoerl枚se f眉r den Emittenten: 2.994.000 US-Dollar nach maximaler Verkaufsprovision von 0,35% (3,50 US-Dollar pro Note)
- CUSIP/ISIN: 25161FJF6 / US25161FJF62
- Keine B枚rsennotierung; nur Buchung 眉ber DTC
Die Hauptrisiken umfassen Emittenten-Kreditrisiko, diskretion盲re vorzeitige R眉ckzahlung, Wiederanlagerisiko bei Zinszahlung im Falle eines Calls sowie ein m枚gliches Bail-in nach EU-Abwicklungsregeln. Aufgrund der geringen Gr枚脽e und der Standardbedingungen ist die Emission f眉r die Kapitalstruktur der Deutschen Bank weitgehend unerheblich, jedoch sollten Investoren pr眉fen, ob der feste Kupon von 5% die Kredit- und Strukturierungsrisiken angemessen kompensiert.
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-286955
PROSPECTUS SUPPLEMENT NO. 2
(to Prospectus dated June 24, 2025 and
Prospectus Supplement dated June 24, 2025)
SenesTech, Inc.
Up to $711,227 of Common Stock
This prospectus supplement amends and supplements the information in the prospectus supplement, dated June 24, 2025 (the “ATM Prospectus Supplement”), to the accompanying base prospectus, dated June 24, 2025 (the “Base Prospectus” and, collectively with the ATM Prospectus Supplement, the “Prospectus”) filed as part of our registration statement on Form S-3 (File No. 333-286955) (the “Registration Statement”), relating to the offer, issuance and sale of shares of our common stock, par value $0.001 per share (“Common Stock”), from time to time having an aggregate offering price of up to $843,069 pursuant to the terms of an At The Market Offering Agreement (“Sales Agreement”), dated June 20, 2024, by and between us and H.C. Wainwright & Co., LLC, as sales agent or principal (“Wainwright” or the “sales agent”). Through the date hereof, we have sold an aggregate of $2,854,827.84 of shares of our Common Stock through the sales agent under the Sales Agreement. This prospectus supplement should be read in conjunction with the Prospectus, and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the Prospectus. This prospectus supplement is not complete without, and may only be delivered or utilized in connection with, the Prospectus, and any future amendments or supplements thereto.
Our Common Stock is listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “SNES.” On June 27, 2025, the last reported sale price for our Common Stock on Nasdaq was $4.76 per share.
As of the date of this prospectus supplement, the aggregate market value of our outstanding Common Stock held by non-affiliates was approximately $10,698,166.64, based on 2,247,691 shares of Common Stock outstanding as of the date of this prospectus supplement, of which 2,247,514 shares are held by non-affiliates, and a price of $4.76 per share, which was the last reported sale price of our Common Stock on Nasdaq on June 27, 2025. During the 12 calendar months prior to and including the date of this prospectus supplement, we have sold $2,854,827.84 of securities pursuant to General Instruction I.B.6 of Form S-3.
We are filing this prospectus supplement to amend and supplement, as of June 30, 2025, the ATM Prospectus Supplement to update the maximum aggregate offering price of shares of our Common Stock that may be offered and sold under the Registration Statement pursuant to General Instruction I.B.6 of Form S-3. After giving effect to the $3,566,055.55 offering limit imposed by General Instruction I.B.6 of Form S-3 and deducting amounts offered and sold pursuant to General Instruction I.B.6 of Form S-3 in the 12 calendar months prior to the date of this prospectus supplement, we may offer and sell additional shares of our Common Stock having an aggregate offering price of up to $711,227 from time to time through the sales agent in accordance with the terms of the Sales Agreement, which amount is in addition to the aggregate of $842,901.60 of shares of our Common Stock previously sold pursuant to the Prospectus and in accordance with the Sales Agreement. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities pursuant to this prospectus supplement with a value of more than one-third of the aggregate market value of our Common Stock held by non-affiliates in any twelve-month period, so long as the aggregate market value of our Common Stock held by non-affiliates is less than $75,000,000. In the event that subsequent to the date of this prospectus supplement, the aggregate market value of our outstanding Common Stock held by non-affiliates equals or exceeds $75,000,000, then the one-third limitation on sales shall not apply to additional sales made pursuant to this prospectus supplement.
Investing in our securities involves a high degree of risk. Please read “Risk Factors” beginning on page S-4 of the ATM Prospectus Supplement and other documents and information contained or incorporated by reference in this prospectus supplement and the ATM Prospectus Supplement.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense. The securities are not being offered in any jurisdiction where the offer is not permitted.
H.C. Wainwright & Co.
The date of this prospectus supplement is June 30, 2025.
Source:
FAQ
What interest rate do Deutsche Bank (DB) 2029 callable notes pay?
When can Deutsche Bank redeem the 5% senior notes?
Are the DB 5% notes subject to bail-in risk?
What is the minimum investment denomination for the Deutsche Bank 2029 notes?
Will the 5% Deutsche Bank notes be listed on an exchange?
How much commission does Deutsche Bank Securities receive on this offering?
