Barclays Bank Delaware plans seven-year CDs on 10 commodity subindexes

By Susanna Moon

Chicago, Feb. 7 - Barclays Bank Delaware plans to price certificates of deposit due Feb. 27, 2020 linked to a basket of equally weighted commodity subindexes, according to a term sheet.

The underlying indexes are S&P GSCI Aluminum Index Excess Return, S&P GSCI Live Cattle Index Excess Return, S&P GSCI Cocoa Index Excess Return, S&P GSCI Lean Hogs Index Excess Return, S&P GSCI Cotton Index Excess Return, S&P GSCI Precious Metals Index Excess Return, S&P GSCI Natural Gas Index Excess Return, S&P GSCI Lead Index Excess Return, S&P GSCI Nickel Index Excess Return and S&P GSCI Zinc Index Excess Return.

The CDs will pay a coupon each year equal to the average of the performances of the basket components, subject to a minimum of zero. If a component's return is greater than or equal to zero, its performance will be fixed at 7% to 8%. If an index's return is negative, its performance will be the greater of the index return and negative 10%.

The payout at maturity will be par.

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

The CDs will price on Feb. 22 and settle on Feb. 28.

The Cusip number is 06740AXU8.

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