Barclays Bank Delaware to price six-year CDs tied to S&P 500

By Marisa Wong

Madison, Wis., Nov. 9 - Barclays Bank Delaware plans to price certificates of deposit due Nov. 29, 2018 linked to the S&P 500 index, according to a term sheet.

The CDs will pay a quarterly coupon of 0.15% to 0.4% per year. The exact coupon rate will be set at pricing.

The payout maturity will be par plus the sum of the 24 quarterly index returns, subject to a floor of zero.

Each quarterly index return is subject to a cap of 3% to 5% and a floor of negative 20%. The actual cap will be set at pricing.

The CDs (Cusip: 06740AWU9) are expected to price on Nov. 26 and settle on Nov. 30.

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

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