Barclays Bank plans 0.25%-0.35% five-year CDs linked to S&P 500

By Susanna Moon

Chicago, Nov. 6 - Barclays Bank Delaware plans to price 0.25% to 0.35% certificates of deposit due Nov. 21, 2018 linked to the S&P 500 index, according to a term sheet.

Interest is payable annually. The exact rate will be set at pricing.

The payout at maturity will be par plus the sum of the index's returns in each of the 20 quarters making up the life of the CDs, subject to a minimum payout of par.

The return in each quarter can be positive or negative and will be subject to a cap of 3.25% to 4% and a floor of negative 15%.

The exact deal terms, including quarterly caps, will be set at pricing.

Barclays is the agent. Incapital LLC is the distributor.

The CDs will price on Nov. 22 and settle on Nov. 29.

The Cusip number is 06740AE70.

© 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.