Company: ADZCF
Filing Date: 2025-02-11
Form Type: 424B2
Source: 0000950103-25-001876
Chunk: 0

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-02-11
Form: 424B2
Chunk 0
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| Pricing Supplement                                
 No. E163                                          
 To prospectus supplement dated April 26, 2024 and 
 prospectus dated April 26, 2024                   | Registration Statement No. 333-278331 
 Rule 424(b)(2)                        |

Deutsche Bank AG

$478,000 Floating Rate Senior Debt Funding Notes Linked to the Consumer Price Index due February 13, 2030

General

| · | The notes pay interest monthly in arrears at a                                                                                           
 variable rate per annum equal to the lagging year-over-year percentage change in the Consumer Price Index plus a Spread, subject         
 to the Minimum Interest Rate, as specified below. The Consumer Price Index for purposes of the notes is the non-seasonally adjusted U.S. 
 City Average All Items Consumer Price Index for All Urban Consumers, as published on Bloomberg Page “CPURNSA” (or any successor          
 page). Because the Consumer Price Index is one measure of price inflation in the United States, the return on your notes will depend on  
 U.S. inflation levels, as measured by the Consumer Price Index. All payments                                                             
 on the notes, including interest payments and the repayment of principal at maturity, are subject to the credit of the Issuer.           |

| · | The notes are intended to qualify as eligible                                                 
 liabilities for the minimum requirement for own funds and eligible liabilities of the Issuer. |

| · | Minimum denominations of $1,000 (the “Principal   
 Amount”) and integral multiples in excess thereof |

Key Terms

| Issuer:                | Deutsche Bank AG                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Issue Price:           | 100.00%                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Consumer Price Index:  | The “Consumer Price Index” or “CPI” means the non-seasonally adjusted U.S. City Average All Items Consumer Price Index for All Urban Consumers (CPI-U) published by the Bureau of Labor Statistics of the U.S. Department of Labor (the “BLS”) on Bloomberg page CPURNSA (or any successor page), as determined by the calculation agent in accordance with the procedures set forth under “Consumer Price Index—Determination of the CPI Rate” in this pricing supplement. |
| Interest Rate:         | For each Interest Period, the notes will bear interest equal to the CPI Rate determined for that Interest Period plus the Spread, subject to the Minimum Interest Rate. Interest will be payable monthly in arrears on each Interest Payment Date, based on an unadjusted 30/