Barclays Bank Delaware plans six-year CDs linked to five stocks

By Jennifer Chiou

New York, July 3 – Barclays Bank Delaware plans to price certificates of deposit due July 30, 2020 linked to a basket of five common stocks, according to a term sheet.

The equally weighted basket includes Apple, Inc., Duke Energy Corp., Hewlett-Packard Co., NIKE Inc. and Ford Motor Co.

The CDs will pay a coupon each year based on the performances of the basket stocks. If each stock closes at or above its initial price on the coupon determination date, the coupon will be the maximum rate of 7%. Otherwise, the coupon will be the minimum rate of 1%.

Investors will receive par at maturity, and the exact terms will be set at pricing.

The notes (Cusip: 06740AV89) are expected to price on July 25 and settle on July 30.

Barclays is the agent. Incapital LLC is the distributor.

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