Barclays to price 0.25%-1% certificates of deposit linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Sept. 1 - Barclays Bank Delaware plans to price 0.25% to 1% certificates of deposit due Sept. 28, 2015 linked to the S&P 500 index, according to a term sheet.

Interest will be payable in September of each year. The exact coupon will be set at pricing.

The payout at maturity will be par plus the sum of the index's return in each of the 20 quarters making up the life of the notes, subject to a floor of par. In each quarter, the index return will be subject to a cap of 3.5% to 5%, with the exact cap to be set at pricing.

The CDs (Cusip: 06740ALU1) will price Sept. 23 and settle Sept. 30.

Barclays Capital Inc. is the agent.

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