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Barclays Bank Delaware plans six-year CDs linked to five stocks
By Susanna Moon
Chicago, Nov. 6 – Barclays Bank Delaware plans to price certificates of deposit due Nov. 25, 2020 linked to a basket of five equally weighted common stocks, according to a term sheet.
The underlying companies are Apple, Inc., AT&T Inc., General Electric Co., Merck & Co. Inc. and McDonald’s Corp.
The CDs will pay a coupon each year based on the performances of the basket stocks. If each stock closes at or above its initial price on the coupon determination date, the coupon will be the maximum rate of 6%. Otherwise, the coupon will be the minimum rate of 1%.
The payout at maturity will be par.
Barclays is the agent. Incapital LLC is distributor.
The CDs will price on Nov. 21 and settle on Nov. 26.
The Cusip number is 06740A2W8.
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