Barclays Bank to price 0.5%-1% CDs linked to WTI light sweet crude oil

By Angela McDaniels

Tacoma, Wash., Nov. 17 - Barclays Bank Delaware plans to price certificates of deposit due Nov. 28, 2014 linked to the price of West Texas Intermediate light sweet crude oil, according to a term sheet.

The CDs will carry a coupon of 0.5% to 1%, payable annually. The exact coupon will be set at pricing.

The payout at maturity will be par plus the sum of the oil returns for the 20 quarters making up the life of the CDs, subject to a floor of par. The quarterly observation dates will be Feb. 23, May 23, Aug. 23 and Nov. 23 of each year.

The oil return on each observation date will be capped at 6% to 7%, with the exact cap to be set at pricing. There is no floor for the oil returns.

The CDs will price Nov. 23 and settle Nov. 30.

Barclays Capital Inc. is the agent, and Advisors Asset Management, Inc. is the distributor.

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