Barclays Bank Delaware plans CDs linked to commodities subindexes

By Jennifer Chiou

New York, Oct. 1 - Barclays Bank Delaware plans to price certificates of deposit due Oct. 27, 2016 linked to a basket of 10 commodities subindexes, according to a term sheet.

The equally weighted basket includes the S&P GSCI Crude Oil Index Excess Return, S&P GSCI Corn Index Excess Return, S&P GSCI Wheat Index Excess Return, S&P GSCI Soybeans Index Excess Return, S&P GSCI Sugar Index Excess Return, S&P GSCI Aluminum Index Excess Return, S&P GSCI Copper Index Excess Return, S&P GSCI Nickel Index Excess Return, S&P GSCI Zinc Index Excess Return and S&P GSCI Gold Index Excess Return.

In October of each year, the CDs will pay a coupon equal to the average of the basket subindex returns, with a floor of zero. The return of each basket commodity subindex will be subject to a floor of negative 25% and a cap of 6.5% to 10%, with the exact cap to be set at pricing.

The payout at maturity will be par.

The CDs (Cusip: 06740AME6) will price on Oct. 22 and settle on Oct. 29.

Barclays Capital Inc. is the agent. Advisors Asset Management, Inc. is the distributor.

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