Barclays Bank to price CDs linked to S&P GSCI commodity subindexes

By Angela McDaniels

Tacoma, Wash., Jan. 12 - Barclays Bank Delaware plans to price certificates of deposit due Jan. 27, 2017 linked to a basket of 10 commodity subindexes, according to a term sheet.

The equally weighted basket includes the S&P GSCI Crude Oil Index Excess Return, S&P GSCI Corn Index Excess Return, S&P GSCI Wheat Index Excess Return, S&P GSCI Soybeans Index Excess Return, S&P GSCI Sugar Index Excess Return, S&P GSCI Aluminum Index Excess Return, S&P GSCI Copper Index Excess Return, S&P GSCI Nickel Index Excess Return, S&P GSCI Zinc Index Excess Return and S&P GSCI Gold Index Excess Return.

In January of each year, the CDs will pay a coupon equal to the average of the basket subindex performances, with a floor of zero. If a subindex's return is positive or flat, its performance will be equal to the return cap. Otherwise, its performance will be the greater of the subindex return and negative 20%.

The return cap is expected to be 9.5% to 12.5% and will be set at pricing.

The payout at maturity will be par.

The CDs (Cusip: 06740AMQ9) will price Jan. 24 and settle Jan. 28.

Barclays Capital Inc. is the agent.

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