Barclays Bank Delaware plans CDs due 2020 on 10 commodity subindexes

By Marisa Wong

Madison, Wis., March 4 - Barclays Bank Delaware plans to price certificates of deposit due March 26, 2020 linked to a basket of commodity subindexes, according to a term sheet.

The equally weighted basket consists of the S&P GSCI Live Cattle Index Excess Return, S&P GSCI Aluminum Index Excess Return, S&P GSCI Lean Hogs Index Excess Return, S&P GSCI Cocoa Index Excess Return, S&P GSCI Cotton Index Excess Return, S&P GSCI Precious Metals Index Excess Return, S&P GSCI Natural Gas Index Excess Return, S&P GSCI Lead Index Excess Return, S&P GSCI Nickel Index Excess Return and 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 0.5%. If a component's return is greater than or equal to zero, its performance will be fixed at 6% to 7%. If an index's return is negative, its performance will be the greater of the index return and negative 15%. The exact return cap will be set at pricing.

The payout at maturity will be par.

Barclays is the agent.

The CDs will price on March 22 and settle on March 27.

The Cusip number is 06740AYP8.

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