Magic Item Price - Circlet of Death Ward

Hello folks, I'm thinking about creating this item and I was wondering if I got the math correct. This is how I figured the price:

Use Activated Base Price: (spell level[4]*caster level[7]*2000) = 56,000
1 Min/level spell cost modifier = base price*2 = 112,000
Uncustomary Space Limitation = 112,000*1.5 = 168,000

So, for 168k gold pieces, I can create a use activate circlet of death ward that will activate any time that I am exposed to a death effect, death spell, energy drain, etc.

Correct?

PJ

Basically, Yes. You would have a continuous death ward while wearing the circlet.

Assuming your DM allows it. Since it's a "new item" it needs to be House-Ruled into the game. But the pricing does seem in line with the suggested guidelines.