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

By Angela McDaniels

Seattle, Dec. 4 - Deutsche Bank AG plans to price an issue of zero-coupon principal protection absolute return barrier notes due June 30, 2008 linked to the S&P 500 index via UBS Financial Services Inc. and Deutsche Bank Securities, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price on Dec. 20 and settle on Dec. 28.

If the index level 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 of $10.00 plus the positive return on the index or par of $10.00 plus the absolute value of any decline in the index, whichever is applicable.

If the index closes above the upper index barrier or below the lower index barrier, the payout will be par.

The upper and lower index barriers will be between 19% and 21% higher and lower, respectively, than the initial index level, with the exact index barriers to be determined at pricing.

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