Restricted tier 1 (RT1) US dollar bond issuance 

The US dollar 1.25 billion bond is perpetual, is first callable at the option of Allianz SE in October 2033, and pays an annual coupon of 6.55% p.a. until the first coupon reset date on April 30, 2034, subject to certain conditions.

The bond is deeply subordinated and senior only to equity. In line with Solvency II requirements for RT1 capital, the bond features a principal loss absorbency mechanism in the form of a write-down of the nominal amount in case a solvency related trigger is breached. Coupon payments and redemptions are at the full discretion of Allianz SE unless they are mandatorily prohibited. The bond was placed with institutional investors and will be listed on the Luxembourg Stock Exchange (Euro MTF). Settlement occurred on August 26, 2025.

No offer

This announcement and the information it contains are not being issued and may not be distributed in the United States of America. This announcement does not constitute an offer of securities for sale in the United States of America or to, or for the account or benefit of, any U.S. person or in any other jurisdiction. The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States of America or any other jurisdiction absent registration or an applicable exemption from registration.

This communication is being distributed to and is directed only at persons in the United Kingdom (the "UK") having professional experience in matters relating to investments, falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (the "Order"), and persons falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). In the UK, this communication must not be acted on or relied on by persons who are not relevant persons. In the UK, any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with such persons.

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

Kontakt