Barclays plans CDs due 2021 linked to basket of five common stocks

By Angela McDaniels

Tacoma, Wash., Jan. 8 – Barclays Bank Delaware plans to price certificates of deposit due Jan. 28, 2021 linked to a basket of stocks, according to a term sheet.

The basket includes AT&T Inc., Bristol-Myers Squibb Co., Costco Wholesale Corp., Intel Corp. and Nike, Inc.

The CDs will pay a coupon each year. If each basket stock closes at or above its initial share price on the coupon determination date for that year, the coupon rate will be the maximum coupon rate, which is expected to be 5% to 5.5% and will be set at pricing. Otherwise, the coupon rate for that year will be the minimum coupon rate, 0.5%.

The payout at maturity will be par.

Barclays is the agent. Incapital LLC is distributor.

The CDs will price Jan. 25.

The Cusip number is 06740FCR7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.