Barclays plans seven-year protected CDs linked to basket of 10 stocks

By Toni Weeks

San Diego, May 9 - Barclays Bank Delaware plans to price certificates of deposit due May 30, 2019 linked to a basket of 10 stocks, according to a disclosure supplement.

The equally weighted basket stocks are Alcoa Inc., Amazon.com, Inc., Cheniere Energy, Inc., Halliburton Co., Newmont Mining Corp., Omnivision Technologies, Inc., Questcor Pharmaceuticals, SINA Corp., Southern Copper Corp. and Walgreen Co.

The notes will pay a coupon each May equal to the sum of the stock performance of each basket stock, subject to a minimum coupon of 0.5%. If a stock's return is zero or positive, its component return will be set to a fixed return of 5.25% to 7.25%. If a stock's return is negative, its component return will be the greater of the stock return and negative 20%.

The payout at maturity will be par.

The exact terms will be set at pricing.

The CDs (Cusip: 06740AUB3) are expected to price May 24 and settle May 31.

Barclays Capital Inc. will be the agent. Advisors Asset Management, Inc. will act as the distributor.

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