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Barclays to price 0.25%-1% certificates of deposit linked to gold
By Jennifer Chiou
New York, Oct. 1 - Barclays Bank Delaware plans to price 0.25% to 1% certificates of deposit due Oct. 27, 2015 linked to the price of gold, according to a term sheet.
Interest will be payable in October of each year. The exact coupon will be set at pricing.
The payout at maturity will be par plus the sum of the gold return in each of the 20 quarters making up the life of the CDs, subject to a floor of par. In each quarter, the gold return will be subject to a cap of 3% to 5%, with the exact cap to be set at pricing.
The CDs (Cusip: 06740AMA4) 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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