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

By Angela McDaniels

Tacoma, Wash., Dec. 31 - Deutsche Bank AG, London Branch plans to price zero-coupon 100% principal protection absolute return barrier M-notes due July 29, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index never closes above the upper index barrier or below the lower index barrier during the life of the notes, the payout at maturity will be par plus the absolute value of the index return. If the index ever closes outside the index barriers, the payout will be par.

The upper and lower index barriers will be between 21.5% and 24.5% above and below the initial index level, respectively. The exact barriers will be set at pricing.

The notes are expected to price on Jan. 24 and settle on Jan. 29.

Deutsche Bank Securities Inc. will be the agent.

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