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Barclays Bank Delaware to price seven-year CDs linked to five stocks
By Wendy Van Sickle
Columbus, Ohio, May 9 – Barclays Bank Delaware plans to price certificates of deposit due May 26, 2023 linked to a basket of five common stocks, according to a term sheet.
The basket includes AbbVie Inc., Apple Inc., AT&T Inc., Microsoft Corp. and Valero Energy Corp.
If each basket component closes at or above its initial price on the relevant coupon determination date, the CDs will pay the annual maximum coupon of 5% to 5.5%. Otherwise, the CDs will pay the minimum coupon of 0.75% for that year.
Investors will receive par plus the final coupon at maturity.
Barclays is the agent. Incapital LLC is the distributor.
The CDs will price May 24 and settle May 27.
The Cusip number is 06740FEE4.
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