Barclays Bank Delaware to sell CDs linked to commodities basket

By Susanna Moon

Chicago, April 5 - Barclays Bank Delaware plans to price certificates of deposit due April 28, 2015 based on a basket of 10 equally weighted commodities, according to a term sheet.

The underlying commodities are soybeans, sugar, platinum, copper, lead, tin, nickel, palladium, zinc and gasoline.

The notes will pay a coupon in April of each year equal to the basket return, subject to a floor of zero. Each commodity's return will be capped at 8% to 13%, with the exact cap to be set at pricing, and will have a component floor of negative 30%.

The payout at maturity will be par.

The CDs are expected to price on April 23 and settle on April 30.

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

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