Barclays to price 0.6% certificates of deposit linked to crude oil

By Angela McDaniels

Tacoma, Wash., Jan. 5 - Barclays Bank Delaware plans to price 0.6% certificates of deposit due Jan. 27, 2015 linked to West Texas Intermediate light sweet crude oil, according to a term sheet.

Interest is payable on Jan. 27 of each year.

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, with a floor of par. The return in each quarter will be capped at 6% to 7%, with the exact cap to be set at pricing.

The CDs will price Jan. 22 and settle Jan. 29.

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

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