Deutsche Bank plans 10-year CMS spread range notes

New York, Jan. 12 - Deutsche Bank AG, London Branch plans to price an offering of 10-year CMS spread range notes due Jan. 23, 2017, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay interest semi-annually at a fixed rate for the first year. The level, to be set at pricing, will be between 8.25% and 8.75%.

After the first year, the semi-annual interest payment will be a base interest rate multiplied by the proportion of days on which the 30-year constant maturity swap (CMS) rate is higher than the two-year CMS rate minus 5 basis points in the quarterly measurement period. The base rate will be between 8.25% and 8.75%, again to be set at pricing.

The notes will be callable starting in January 2008 on any interest payment date at par.

The notes will price on Jan. 18.

Deutsche Bank Securities and Deutsche Bank Trust Co. Americas are agents.

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