Barclays Bank Delaware plans seven-year CDs on 10 commodity subindexes

By Toni Weeks

San Diego, Aug. 6 - Barclays Bank Delaware plans to price certificates of deposit due Aug. 30, 2019 linked to a basket of commodity subindexes, according to a term sheet.

The equally weighted basket includes the S&P GSCI Sugar Index Excess Return, the S&P GSCI Cocoa Index Excess Return, the S&P GSCI Corn Index Excess Return, the S&P GSCI Lean Hogs Index Excess Return, the S&P GSCI Live Cattle Index Excess Return, the S&P GSCI Gold Index Excess Return, the S&P GSCI Natural Gas Index Excess Return, the S&P GSCI Lead Index Excess Return, the S&P GSCI Nickel Index Excess Return and the S&P GSCI Zinc Index Excess Return.

The CDs will pay a coupon each year equal to the average of the performances of the basket components, subject to a minimum of zero. If a component's return is greater than or equal to zero, its performance will be fixed at 7% to 9%. If an index's return is negative, its performance will be the greater of the index return and negative 20%.

Investors will receive par at maturity.

The exact terms will be set at pricing.

The CDs (Cusip: 06740AVM8) will price Aug. 27 and settle Aug. 31.

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

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