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Barclays plans CDs due 2018 linked to basket of 10 common stocks
By Toni Weeks
San Luis Obispo, Calif., Feb. 7 - Barclays Bank Delaware plans to price certificates of deposit due Feb. 28, 2018 linked to a basket of 10 equally weighted common stocks, according to a term sheet.
The underlying companies are Apple Inc., Bristol-Myers Squibb Co., Cisco Systems, Inc., Duke Energy Corp., Ford Motor Co., Hewlett-Packard Co., McDonald's Corp., Nike, Inc., AT&T Inc. and Yahoo! Inc.
The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum coupon of 0%.
If a stock's return is zero or positive, its performance will be equal to the return cap. If a stock's return is negative, its performance will be the greater of the stock return and negative 15%. The return cap is expected to be 5% to 5.5% and will be set at pricing.
The payout at maturity will be par.
Barclays is the agent. Incapital LLC is the distributor.
The CDs will price on Feb. 24 and settle on Feb. 28.
The Cusip number is 06740AK73.
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