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Barclays Bank Delaware plans six-year CDs linked to five stocks
By Jennifer Chiou
New York, April 7 - Barclays Bank Delaware plans to price certificates of deposit due April 29, 2020 linked to a basket of five common stocks, according to a term sheet.
The equally weighted basket includes Apple, Inc., Duke Energy Corp., Ford Motor Corp., Hewlett-Packard Co. and Nike, Inc.
The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum rate of 1%.
If a stock's return is zero or positive, its performance will be fixed at 7.5%. 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, and the exact terms will be set at pricing.
The CDs (Cusip: 06740AQ28) will price on April 24 and settle on April 29.
Barclays is the agent. Incapital LLC is the distributor.
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