Company: ADZCF
Filing Date: 2025-01-16
Form Type: 424B2
Source: 0000950103-25-000599
Chunk: 9

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-01-16
Form: 424B2
Chunk 9
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 liable for, any action that the trustee or the indenture agents take, or abstain from taking, in either case in accordance with the imposition of a Resolution Measure by the competent resolution authority with respect to the notes. Accordingly, you may have limited or circumscribed rights to challenge any decision of the competent resolution authority to impose any Resolution Measure.

| · | OUR                                                                                                 
 SENIOR DEBT FUNDING SECURITIES, INCLUDING THE NOTES OFFERED HEREIN, ARE INTENDED TO QUALIFY         
 AS ELIGIBLE LIABILITIES WITHIN THE MEANING OF ARTICLE 72B(2), WITH THE EXCEPTION OF POINT           
 (D), CRR FOR THE MINIMUM REQUIREMENT FOR OWN FUNDS AND ELIGIBLE LIABILITIES UNDER THE ISSUER        
 REGULATORY CAPITAL PROVISIONS APPLICABLE TO US. THEY ARE EXPECTED TO CONSTITUTE “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,