Barclays plans 0.4%-1% certificates of deposit linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Dec. 6 - Barclays Bank Delaware plans to price 0.4% to 1% certificates of deposit due Dec. 28, 2017 linked to the S&P 500 index, according to a term sheet.

Interest will be payable annually. 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 24 quarters making up the life of the CDs, subject to a minimum payout of par.

In each quarter, the index return will be determined using the closing level of the index on the immediately preceding quarterly observation date - not the closing level of the index on the pricing date - and will be subject to a cap of 3% to 5% that will be set at pricing.

The CDs (Cusip: 06740ARC5) will price Dec. 22 and settle Dec. 30.

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

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