Barclays Bank Delaware plans seven-year CDs 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. 29, 2020 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 1.35%. If a stock's return is zero or positive, its performance will be fixed at 5% to 5.5%. 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: 06740AG60) will price Dec. 23 and settle Dec. 30.

Barclays is the agent. Incapital LLC is the distributor.

© 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.