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Barclays Bank Delaware plans 0.25%-0.35% CDs due 2019 tied to S&P 500
By Marisa Wong
Madison, Wis., March 8 - Barclays Bank Delaware plans to price 0.25% to 0.35% certificates of deposit due March 27, 2019 linked to the S&P 500 index, according to a term sheet.
Interest will be payable annually.
The payout maturity will be par plus the sum of the 24 quarterly index returns, with a minimum payout of par.
Each quarterly index return is subject to a cap of 3% to 4% and a floor of negative 15%. The actual cap will be set at pricing.
Barclays is the agent. Advisors Asset Management, Inc. is the distributor.
The CDs will price on March 22 and settle on March 28.
The Cusip number is 06740AYE3.
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