Company: ADZCF
Filing Date: 2025-02-03
Form Type: 424B2
Source: 0000950103-25-001324
Chunk: 12

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-02-03
Form: 424B2
Chunk 12
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center'>PS-8</div>

certain other conditions are met. Specifically, the competent resolution authority could impose Resolution Measures on us under German and European laws and regulations if we become, or are deemed by the competent supervisory authority to have become, “non-viable” (as defined under the then applicable law) and are unable to continue our regulated banking activities without a Resolution Measure becoming applicable to us.

| o | If a Resolution Measure is imposed on us, you may lose some or all of your investment in                                                        
 the Securities. A Resolution Measure may include: a write down, including to zero, of any claim for payment on the Securities; a conversion     
 of the Securities into ordinary shares of us, any group entity or any bridge bank or other instruments of ownership of such entities qualifying 
 as common equity tier 1 capital (and the issue to or conferral on the holders (including the beneficial owners) of such ordinary shares         
 or instruments); or the application of any other resolution measure including, but not limited to, any transfer of the Securities to another    
 entity, an amendment, modification or variation of the terms and conditions of the Securities or the cancellation of the Securities. The        
 competent resolution authority may apply Resolution Measures individually or in any combination. Therefore, you may lose some or all of         
 your investment in the Securities offered herein if insolvency proceedings are opened against us or a Resolution Measure becomes applicable     
 to us.                                                                                                                                          |

| o | If a Resolution Measure is imposed on us, the secondary market for the Securities may be                                                
 affected. It will be difficult to predict when, if at all, a Resolution Measure might become applicable to us in our individual case.   
 Accordingly, secondary market trading in the Securities may not follow the trading behavior associated with similar types of Securities 
 issued by other financial institutions which may be or have been subject to a Resolution Measure.                                       |

By acquiring the Securities, you will be bound by and will be deemed irrevocably to consent to the imposition of any Resolution Measure by the competent resolution authority. As a result, you would have no claim or other right against us arising out of any Resolution Measure and the imposition of any Resolution Measure will not constitute a default or an event of default under the Securities, under the senior indenture or for the purposes of, but only to the fullest extent permitted by, the Trust Indenture Act of 1939, as amended. In addition, the trustee, the paying agent, issuing agent, registrar and The Depository Trust Company (“ D