Barclays Bank Delaware plans CDs with 5% buffer tied to 10 stocks

By Marisa Wong

Madison, Wis., July 9 - Barclays Bank Delaware plans to price certificates of deposit due July 30, 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 and 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 zero. If a stock's return is greater than or equal to negative 5%, its performance will be fixed at 6% to 8%. If a stock's return is less than negative 5%, its performance will be the greater of the stock return and negative 25%.

Investors will receive par at maturity.

The CDs (Cusip: 06740AUU1) will price on July 25 and settle on July 31. The exact terms will be set at pricing.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.