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Barclays plans contingent coupon CDs linked to Euro Stoxx 50 index
By Angela McDaniels
Tacoma, Wash., Oct. 6 – Barclays Bank Delaware plans to price certificates of deposit due Oct. 29, 2021 linked to the Euro Stoxx 50 index, according to a term sheet.
Each year, the CDs will pay a 5% coupon if the closing index level is greater than or equal to the initial index level on the determination date for that year. If the closing index level is less than the initial index level, no coupon will be paid that year.
The payout at maturity will be par.
Barclays is the agent. Incapital LLC is distributor.
The CDs will price Oct. 24 and settle Oct. 31.
The fees are expected to be no more than 3.5%.
The Cusip number is 06740A2K4.
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