Company: ADZCF
Filing Date: 2025-07-31
Form Type: 424B2
Source: 0000950103-25-009636
Chunk: 0

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-07-31
Form: 424B2
Chunk 0
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Deutsche Bank AG

$3,050,000 5.00% Fixed Rate Callable Senior Debt Funding Notes due August 1, 2032

General

| · | The notes pay interest annually in arrears at                                                                                            
 a fixed rate per annum, as specified below. We may, in our sole discretion, redeem the notes in whole, but not in part, on the Optional  
 Redemption Dates specified below. All payments on the notes, including interest payments and the repayment of principal at maturity, are 
 subject to the credit of the Issuer.                                                                                                     |

| · | The notes are intended to qualify as eligible                                                 
 liabilities for the minimum requirement for own funds and eligible liabilities of the Issuer. |

| · | Minimum denominations of $1,000 (the “Principal   
 Amount”) and integral multiples in excess thereof |

Key Terms

| Issuer:                    | Deutsche Bank AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Issue Price:               | 100.00%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Interest Rate:             | 5.00% per annum, payable annually in arrears on each Interest Payment Date, based on an unadjusted 30/360 day count convention.                                                                                                                                                                                                                                                                                                                                                                                         |
| Interest Payment Dates:    | Annually, on the 1st calendar day of each August, commencing on August 1, 2026 and ending on the Maturity Date or Optional Redemption Date, if applicable. If any scheduled Interest Payment Date 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. |
| Optional Redemption:       | We have the right to redeem the notes in our sole discretion in whole, but not in part, on the Optional Redemption Dates, at 100% of the Principal Amount together with any accrued but unpaid interest by giving not less than 5 business days’ prior notice, subject to regulatory approval.                                                                                                                                                                                                                          |
| Optional Redemption Dates: | Semi-annually, on the 1st calendar day of each February and August, commencing on August 1, 2026 and ending on February 1, 2032.                                                                                                                                                                                                                                                                                                                                                                                        |
| Trade Date:                | July 30, 2025                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| Settlement Date:           |