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Barclays Bank Delaware plans CDs due 2019 tied to basket of 10 stocks
By Toni Weeks
San Luis Obispo, Calif., Feb. 7 - Barclays Bank Delaware plans to price certificates of deposit due Feb. 27, 2019 linked to a basket of common stocks, according to a term sheet.
The equally weighted basket includes Darden Restaurants, Inc., Eli Lilly and Co., Exelon Corp., Freeport-McMoRan Copper & Gold Inc., Intel Corp., Lockheed Martin Corp., Newmont Mining Corp., Starbucks Corp., Verizon Communications Inc. and Walgreen Co.
The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum rate of 0%. If a stock's return is zero or positive, its performance will be fixed at 5% to 6%. If a stock's return is less than zero, its performance will be the greater of the stock return and negative 15%.
Investors will receive par at maturity.
The CDs (Cusip: 06740AXZ7) will price Feb. 22 and settle Feb. 28.
Barclays is the agent. Advisors Asset Management, Inc. is the distributor.
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