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Barclays plans CDs due 2023 linked to basket of five common stocks
By Angela McDaniels
Tacoma, Wash., July 11 – Barclays Bank Delaware plans to price certificates of deposit due July 28, 2023 linked to a basket of stocks, according to a term sheet.
The basket includes AbbVie Inc., Apple Inc., AT&T Inc., Microsoft Corp. and Valero Energy Corp.
The CDs will pay a coupon each year. If each basket stock closes at or above its initial share price on the coupon determination date for that year, the coupon will be 5%. If any basket stock closes below its initial share price on that date, the coupon for that year will be 0.5%.
The payout at maturity will be par.
Barclays is the agent. Incapital LLC is distributor.
The CDs will price July 25.
The Cusip number is 06740FEW4.
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