Barclays to price 0.5%-1% certificates of deposit linked to gold

By Angela McDaniels

Tacoma, Wash., Feb. 4 - Barclays Bank Delaware plans to price 0.5% to 1% certificates of deposit due Feb. 24, 2015 linked to the price of gold, according to a term sheet.

Interest will be payable in February of each year.

If the closing price of gold is never greater than the knock-out level - expected to be 150% to 170% of the initial price of gold - on any day during the life of the notes, the payout at maturity will be par plus the gold return, subject to a floor of par. Otherwise, the payout will be par.

The exact coupon and knock-out level will be set at pricing.

The CDs will price Feb. 19 and settle Feb. 26.

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

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