Deutsche Bank to price absolute return barrier notes due April 2010 linked to S&P 500

By Susanna Moon

Chicago, Aug. 5 - Deutsche Bank AG, London Branch plans to price zero-coupon 100% principal protection absolute return barrier M-notes due April 29, 2010 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 barrier or below the lower barrier, the payout at maturity will be par plus the absolute value of the index return, with a floor of 1.5% of par. Otherwise, the payout will be 1.5% of par.

The upper barrier will be 19.6% to 22.6% above the initial index level, with the exact barrier to be set at pricing. The lower barrier will be 15% below the initial level.

The notes are expected to price on Aug. 26 and settle on Aug. 29.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. will be the underwriters.

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