Company: ADZCF
Filing Date: 2025-04-30
Form Type: 424B2
Source: 0000950103-25-005465
Chunk: 9

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-04-30
Form: 424B2
Chunk 9
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, 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, 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