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Restricted tier 1 (RT1) dual-tranche EUR and USD bond offering 

The US dollar tranche of USD 1.25 billion is perpetual, is first callable at the option of Allianz SE on October 30, 2027, and pays an annual coupon of 3.20% p.a. until the first coupon reset date on April 30, 2028, subject to certain conditions. 

The EUR tranche of EUR 1.25 billion is perpetual, is first callable at the option of Allianz SE on October 30, 2031, and pays an annual coupon of 2.60% p.a. until the first coupon reset date on April 30, 2032, subject to certain conditions. 

Both tranches are deeply subordinated and senior only to equity. In line with Solvency II requirements for RT1, both tranches feature a principal loss absorbency mechanism in the form of a write-down of the nominal amount in case a standard solvency related trigger is breached. Coupon payments and redemptions are at the full discretion of Allianz SE unless they are mandatorily prohibited. Both tranches will be listed on the Luxembourg Stock Exchange (Euro MTF). Settlement occurred on September 7, 2021.

Additional information

This release does not constitute or relate to a public offer of securities for sale or a solicitation of an offer to purchase securities. The securities will not be or have not been registered under the US Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.

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