The standard 44bhp version is under the 47bhp A2 limit, but falls foul of power-to-weight ratio rules.
The new licensing rules - which come into effect from January 19 - will see under-21s restricted to 47bhp for two years.
The 390 Duke will use the same frame as the 125cc and 200cc Dukes and will be the fourth bike in the firm's Duke range below the bigger 690 Duke.
The 390 is expected to go on sale in the latter half of 2013.
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