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Barclays Bank Delaware plans five-year CDs linked to S&P 500 index
By Jennifer Chiou
New York, Oct. 1 - Barclays Bank Delaware plans to price certificates of deposit due Oct. 27, 2015 linked to the S&P 500 index, according to a term sheet.
The CDs have a coupon rate of 0.25% to 1% per year, payable annually in October.
The payout at maturity will equal par plus the sum of the quarterly index returns measured throughout the life of the notes, with a floor of par. There is a return cap of 3% to 5%.
The exact terms will be set at pricing.
There is a survivor put.
The CDs (Cusip: 06740AMD8) will price on Oct. 22 and settle on Oct. 29.
Barclays Capital Inc. is the agent. Advisors Asset Management, Inc. is the distributor.
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