Barclays Bank Delaware to price seven-year CDs linked to 10 stocks

By Toni Weeks

San Diego, Dec. 17 - Barclays Bank Delaware plans to price certificates of deposit due Dec. 27, 2019 linked to a basket of common stocks, according to a term sheet.

The equally weighted basket includes Darden Restaurants, Inc., Eli Lilly and Co., Freeport-McMoRan Copper & Gold Inc., Northeast Utilities, Inc., Progressive Corp., Silver Wheaton Corp., Southern Copper Corp., Starbucks Corp., Walgreen Co. and Yum! Brands Inc.

The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum rate of zero. If a stock's return is greater than or equal to 95% of the initial level, its performance will be fixed at 5.25% to 7.25%. If a stock's return is less than the 95% buffer level, its performance will be the greater of the stock return and negative 20%.

Investors will receive par at maturity.

The CDs (Cusip: 06740AXD6) will price Dec. 21 and settle Dec. 31.

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

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