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Barclays Bank Delaware plans CDs due 2019 linked to 10 stocks
By Marisa Wong
Madison, Wis., May 8 - Barclays Bank Delaware plans to price certificates of deposit due May 30, 2019 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 5% to 6%. The exact return cap will be set at pricing. 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: 06740AZE2) will price May 24 and settle May 31.
Barclays is the agent. Advisors Asset Management, Inc.is the distributor.
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