They are senior in the capital structure and are trading at a significant discount to parity.

FORBES: Magazine Article

The logic of a penalty discount rate is that the Fed prefers to let the rate structure ration Federal Reserve credit rather than having to do so administratively.

FORBES: What The Discount Rate Hike Is Really About

Their shares trade at a discount to the other Italian banks because of their takeover-resistant structure, and they lack economies of scale.

ECONOMIST: Mutually assured destruction?

While Deutsche Bank didn't disclose the terms of the share sale, industry officials said the deal's structure would likely involve a small number of big institutional money managers picking up the shares at a small discount to the stock's current trading price.

WSJ: Deutsche Bank Rallies on Capital Boost