A power semiconductor device, such as a power diode, and a method for producing such a device, are disclosed. The device includes a first layer of a first conductivity type, a second layer of a second conductivity type arranged in a central region on a first main side of the first layer, a third electrically conductive layer arranged on the second layer, and a fourth electrically conductive layer arranged on the first layer at a second main side opposite to the first main side. A junction termination region surrounds the second layer with self-contained sub-regions of the second conductivity type. A spacer region is arranged between the second layer and the junction termination region and includes a self-contained spacer sub-region of the second conductivity type which is electrically disconnected from the second layer. This spacer sub-region has a width for enabling a reliable alignment of a shadow mask during an ion implantation such that an implanted lifetime control region having carrier lifetime reducing defects may be restricted to a central area while no such defects are implanted into the junction termination region to improve electrical characteristics.