Company: ADZCF
Filing Date: 2025-12-12
Form Type: 424B3
Source: 0000950103-25-016067
Chunk: 9

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-12-12
Form: 424B3
Chunk 9
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SENIOR PREFERRED” DEBT SECURITIES AND WOULD, IF INSOLVENCY PROCEEDINGS          
 ARE OPENED AGAINST US OR IF RESOLUTION MEASURES ARE IMPOSED ON US, BEAR LOSSES AFTER OUR “SENIOR NON-PREFERRED” DEBT INSTRUMENTS              
 BUT BEFORE OTHER LIABILITIES WITH AN EVEN MORE SENIOR RANK, FOR EXAMPLE, COVERED DEPOSITS AND DEPOSITS HELD BY NATURAL PERSONS AND MICRO,     
 SMALL AND MEDIUM-SIZED ENTERPRISES —The notes are intended to                                                                                 
 qualify as eligible liabilities instruments within the meaning of Article 72b(2), with the exception of point (d), CRR for the minimum        
 requirement for own funds and eligible liabilities, as described and provided for in the bank regulatory capital provisions to which we       
 are subject, including restrictions on the aggregate amount of similar instruments that we may use for such purposes, but do not constitute   
 senior non-preferred debt instruments within the meaning of Section 46f(6) sentence 1 of the German Banking Act (Kreditwesengesetz).          
 The notes will constitute our unsecured and unsubordinated obligations ranking pari passu among themselves and with all of our                
 other unsecured and unsubordinated obligations, subject, however, to statutory priorities conferred upon certain unsecured and unsubordinated 
 obligations in the event of any Resolution Measures imposed on us or in the event of our dissolution, liquidation, insolvency or composition, 
 or if other proceedings are opened for the avoidance of the insolvency of, or against, us; in accordance with Section 46f(5) of the German    
 Banking Act (Kreditwesengesetz), our obligations under the notes will rank in priority to our senior non-preferred obligations                
 under (i) any of our debt instruments (Schuldtitel) within the meaning of Section 46f(6) sentence 1 of the German Banking                     
 Act (including the senior non-preferred obligations under any such debt instruments that we issued before July 21, 2018 and that are subject  
 to Section 46f(9) of the German Banking Act) or any successor provision and (ii) eligible liabilities within the meaning of Articles          
 72a and 72b(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council, as amended, supplemented or replaced from        
 time to time (the “CRR”).