Barclays Bank Delaware plans five-year CDs on BRIC currency basket

By Toni Weeks

San Diego, Aug. 6 - Barclays Bank Delaware plans to price certificates of deposit due Aug. 31, 2017 linked to a basket of four currencies relative to the dollar, according to a term sheet.

The equally weighted basket includes the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

If the basket return is greater than zero, the payout at maturity will be par plus the greater of the contingent minimum return and the basket return. The contingent minimum return is expected to be 9% to 13%.

If the basket return is less than or equal to zero, the payout will be par.

The exact terms will be set at pricing.

The CDs (Cusip: 06740AVK2) will price Aug. 28 and settle Aug. 31.

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

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