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Barclays Bank Delaware plans CDs due 2019 on basket of 10 stocks
By Toni Weeks
San Luis Obispo, Calif., Dec. 6 - Barclays Bank Delaware plans to price certificates of deposit due Dec. 27, 2019 linked to a basket of 10 common stocks, according to a term sheet.
The equally weighted basket includes Apple, Inc., AT&T Inc., Duke Energy Corp., Eli Lilly and Co., Intel Corp., Lockheed Martin Corp., Starbucks Corp. Verizon Communications Inc., Walgreen Co. and Wells Fargo & 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 0%. If a stock's return is zero or positive, its performance will be fixed at 8% to 8.5%. 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 exact terms will be set at pricing.
The CDs (Cusip: 06740AG94) will price Dec. 23 and settle Dec. 30.
Barclays is the agent. Incapital LLC is the distributor.
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