Deutsche Bank plans 15-year CMS spread range notes

By E. Janene Geiss

Philadelphia, April 11 - Deutsche Bank AG, London Branch plans to price an offering of CMS (constant maturity swap) spread range notes due April 20, 2022, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay 8% interest for the first year.

After the first year, the interest payment will be the 8% base interest rate multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate.

Interest will be payable quarterly.

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

The notes will price April 17 and settle April 20.

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

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