Deutsche Bank to price absolute return barrier notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., July 1 - Deutsche Bank AG, London Branch plans to price zero-coupon 100% principal protection absolute return barrier notes due Jan. 29, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index remains at or above the lower barrier and at or below the upper barrier throughout the life of the notes, the payout at maturity will be par plus the greater of 1.5% and the absolute value of the index return.

Otherwise, the payout will be par plus 1.5%.

The lower barrier will be 15% below the initial index level, and the upper barrier will be 18.6% to 21.6% above the initial level. The exact upper barrier will be set at pricing.

The notes are expected to price July 28 and settle July 31.

Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas will be the agents.

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