Allianz SE has placed a subordinated bond in an aggregate principal amount of 1.0 billion euros with institutional investors in Europe. The bond has a scheduled maturity in July 2050 and is callable at the option of the issuer from July 2030. The coupon is fixed at 2.121% per annum until July 2030. Thereafter, bondholders will receive a floating rate coupon. Coupon payments and redemption are subject to certain conditions and may be deferred. The bond will be listed on the Luxembourg Stock Exchange. Settlement is expected to occur on May 22, 2020.