Company: ADZCF
Filing Date: 2025-01-10
Form Type: 424B2
Source: 0000950103-25-000348
Chunk: 22

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-01-10
Form: 424B2
Chunk 22
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 Business Day with the full force and effect as if made on the scheduled Maturity Date, and no interest on such postponed payment will accrue during the period from and after the scheduled Maturity Date.

During the period from, and including, the Settlement Date to, but excluding the Reset Date (the “ Fixed Rate Period”), the notes will bear interest at a fixed rate equal to 5.373% per annum (referred to herein as the “ Interest Rate” during the Fixed Rate Period), payable on a semi-annual basis in arrears on January 10 and July 10 of each year, commencing on July 10, 2025 and ending on the Reset Date (each, an “ Interest Payment Date” during the Fixed Rate Period) based on an unadjusted 30/360 day count convention. If any scheduled Interest Payment Date during the Fixed Rate Period is not a Business Day, the interest will be paid on the first following day that is a Business Day. Notwithstanding the foregoing, such interest will be paid with the full force and effect as if made on such scheduled Interest Payment Date, and no adjustment will be made to the amount of interest to be paid.

During the period from, and including, the Reset Date to, but excluding the Maturity Date (the “ Floating Rate Period”), the notes will bear interest at a variable rate (referred to herein as the “ Interest Rate” during the Floating Rate Period) equal to the Compounded SOFR plus 1.210% (the “ Spread”), payable on a quarterly basis in arrears on January 10, April 10, July 10 and October 10 of each year, commencing on April 10, 2028 and ending on the Maturity Date (each, an “ Interest Payment Date” during the Floating Rate Period) based on an Actual/360 day count convention. In no case will the amount payable on any Interest Payment Date be less than zero.If any scheduled Interest Payment Date (other than the Maturity Date) during the Floating
Rate Period is not a Business Day, it will be postponed to the following Business Day, except that, if that Business Day would fall in
the next calendar month, the Interest Payment Date will be the immediately preceding Business Day. If the scheduled final Interest Payment
Date (i.e., the Maturity Date) falls on a day that is not a Business Day, the payment of principal and interest will be made on the next
succeeding Business Day, but interest on