Barclays Bank Delaware to price CDs on 10 commodity subindexes

By Toni Weeks

San Luis Obispo, Feb. 6 - Barclays Bank Delaware plans to price certificates of deposit due Feb. 27, 2020 linked to a basket of commodity subindexes, according to a term sheet.

The equally weighted basket includes the S&P GSCI Aluminum Index Excess Return, the S&P GSCI Live Cattle Index Excess Return, the S&P GSCI Cocoa Index Excess Return, the S&P GSCI Lean Hogs Index Excess Return, the S&P GSCI Cotton Index Excess Return, the S&P GSCI Precious Metals 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 in February of each year equal to the average of the performances of the basket components, subject to a minimum rate of 0%. If a component's return is greater than or equal to zero, its performance will be fixed at 7% to 8%. If an index's return is negative, its performance will be the greater of the index return and negative 10%.

Investors will receive par at maturity.

The exact terms will be set at pricing.

The CDs (Cusip: 06740AXU8) will price Feb. 22 and settle Feb. 28.

Barclays is the agent.

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