Barclays Bank Delaware plans seven-year CDs linked to 10 stocks

By Marisa Wong

Morgantown, W.Va., Oct. 16 – Barclays Bank Delaware plans to price certificates of deposit due Oct. 28, 2022 linked to a basket of stocks, according to a term sheet.

The equally weighted basket includes Apple Inc., AT&T Inc., Bristol-Myers Squibb Co., Duke Energy Corp., Ford Motor Co., Kimberly-Clark Corp., Microsoft Corp., Prudential Financial, Inc., Target Corp. and Valero Energy Corp.

The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum rate of 1%.

If a stock’s return is zero or positive, its performance will be fixed at 5% to 5.5%. If a stock’s return is less than zero, its performance will be the greater of the stock return and negative 15%.

Investors will receive par at maturity, and the exact terms will be set at pricing.

Barclays is the agent. Incapital LLC is the distributor.

The CDs will price Oct. 26 and settle Oct. 29.

The Cusip number is 06740FBM9.

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