Barclays Bank Delaware plans CDs due 2018 linked to 10 stocks

By Toni Weeks

San Luis Obispo, Calif., May 6 - Barclays Bank Delaware plans to price certificates of deposit due May 30, 2018 linked to a basket of common stocks, according to a term sheet.

The equally weighted basket includes Darden Restaurants, Inc., Eli Lilly and Co., Exelon Corp., Freeport-McMoRan Copper & Gold Inc., Intel Corp., Lockheed Martin Corp., Newmont Mining Corp., Starbucks Corp., Verizon Communications Inc. 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 rate of zero. If a stock's return is zero or positive, its performance will be fixed at 4% to 5%. If a stock's return is less than zero, its performance will be the greater of the stock return and negative 15%.

Investors will receive par at maturity.

The CDs (Cusip: 06740AZD4) will price May 24 and settle May 31.

Barclays is the agent. Incapital LLC is the distributor.

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