Company: ADZCF
Filing Date: 2025-03-13
Form Type: 424B2
Source: 0000950103-25-003372
Chunk: 0

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 424B2
Chunk 0
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<div align='center'>The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanying underlying supplement, product supplement, prospectus supplement and prospectus do not constitute an offer to sell nor do they seek an offer to buy the Securities in any jurisdiction where the offer or sale is not permitted.

Subject to Completion, dated March 13, 2025</div>

| Pricing Supplement No. A13 dated March , 2025        
 (To Underlying Supplement No.1 dated April 26, 2024, 
 Product Supplement B dated April 26, 2024,           
 Prospectus Supplement dated April 26, 2024           
 and Prospectus dated April 26, 2024)                 | Registration Statement No. 333-278331 
 Rule 424(b)(2)                        |

Deutsche Bank AG Trigger Autocallable Contingent Yield Notes

Linked to the Least Performing of the Russell 2000 ®Index and the S&P 500 ®Index due on or about March 18, 2030

| Investment Description |

The Trigger Autocallable Contingent Yield
Notes (the “Notes”) are unsecured and unsubordinated obligations of Deutsche Bank AG (the “Issuer”)
linked to the least performing of the Russell 2000 Index and the S&P 500 Index (each an “Underlying”
and together the “Underlyings”). On a quarterly basis, unless the Notes have been previously called, the Issuer will
pay you a coupon (the “Contingent Coupon”) if the Closing Level of each Underlying on the applicable Coupon Observation
Date is greater than or equal to its Coupon Barrier. However, if the Closing Level of any Underlying on a Coupon Observation Date is less
than its Coupon Barrier, you will not receive any Contingent Coupon for the relevant quarter. If the Closing Level of each Underlying
on any Call Observation Date is greater than or equal to its Closing Level on the Trade Date (the “Initial Underlying Level”),
the Notes will be automatically called, and the Issuer will pay you the Face Amount of the Notes plus the Contingent Coupon, and no further
payments will be made on the Notes. If the Notes are not automatically called and the Closing Level of each Underlying on the Final Valuation
Date (the “Final Underlying Level”) is greater than or equal to its Downside Threshold (which is set equal to its Coupon
Barrier), the