Barclays to price CDs with minimum coupon linked to 10 common stocks

By Angela McDaniels

Tacoma, Wash., June 7 - Barclays Bank Delaware plans to price certificates of deposit due June 28, 2019 linked to a basket of common stocks, according to a term sheet.

The equally weighted basket includes Apple Inc., CenturyLink, Inc., Darden Restaurants, Inc., Eli Lilly & Co., Freeport-McMoRan Copper & Gold Inc., Hewlett Packard Co., New York Community Bancorp, Inc., Northeast Utilities, Inc., Silver Wheaton Corp. and Walgreen Co.

The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum of 0.4%. If a stock's return is zero or positive, its performance will be fixed at 5% to 7%. The exact percentage will be set at pricing. If a stock's return is negative, its performance will be the greater of the stock return and negative 25%.

Investors will receive par at maturity.

The CDs (Cusip: 06740AUK3) will price June 25 and settle June 29.

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

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