Barclays Bank Delaware to price CDs linked to 10 commodity subindexes

By Angela McDaniels

Tacoma, Wash., April 8 - Barclays Bank Delaware plans to price certificates of deposit due April 29, 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 Brent Crude Index Excess Return, the S&P GSCI Cocoa 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 Precious Metals Index Excess Return, the S&P GSCI Lead Index Excess Return, the S&P GSCI Nickel Index Excess Return, the S&P GSCI Sugar Index Excess Return and the S&P GSCI Zinc Index Excess Return.

The CDs will pay a coupon in April of each year equal to the average of the performances of the basket components, subject to a minimum rate of 0.55%. If a component's return is greater than or equal to zero, its performance will be fixed at 5% to 6%. The exact fixed amount will be set at pricing. If an index's return is negative, its performance will be the greater of the index return and negative 15%.

Investors will receive par at maturity.

Barclays is the agent.

The CDs will price April 24 and settle April 30.

The Cusip number is 06740AYZ6.

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