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Barclays plans certificates of deposit due 2018 linked to 10 stocks
By Angela McDaniels
Tacoma, Wash., Nov. 7 - Barclays Bank Delaware plans to price certificates of deposit due Nov. 28, 2018 linked to a basket of common stocks, according to a term sheet.
The equally weighted basket includes AK Steel Holding Corp., Gannett Co., Inc., Hewlett-Packard Co., Kimco Realty Corp., Lexmark International, Inc., MetroPCS Communications, Inc., Netflix, Inc., Nvidia Corp., QEP Resources, Inc. and Staples, Inc.
The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum of zero. If a stock's return is zero or positive, its performance will be fixed at 7.5% to 11.5%. If a stock's return is negative, its performance will be the greater of the stock return and negative 30%.
The exact terms will be set at pricing.
Investors will receive par at maturity.
The CDs (Cusip: 06740AQW2) will price Nov. 23 and settle Nov. 30.
Barclays Capital Inc. is the agent. Advisors Asset Management, Inc. is distributor.
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