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Barclays plans to price quarterly return CDs linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Jan. 8 – Barclays Bank Delaware plans to price 0% certificates of deposit due Jan. 28, 2021 linked to the Russell 2000 index, according to a term sheet.
The payout at maturity will be par plus the sum of the quarterly returns, subject to a minimum return of 3%.
The quarterly returns are the index's return on each of the 20 quarterly observation dates throughout the life of the CDs. Each quarterly return can be positive or negative, subject to a cap of 4% to 4.5%, and will be measured from the end of the prior quarter. The exact cap will be set at pricing.
Barclays is the agent. Incapital LLC is distributor.
The CDs will price Jan. 25.
The Cusip number is 06740FCY2.
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