Barclays Bank Delaware plans CDs due 2020 tied to basket of 10 stocks

By Marisa Wong

Madison, Wis., Jan. 9 – Barclays Bank Delaware plans to price certificates of deposit due Jan. 29, 2020 linked to a basket of stocks, according to a term sheet.

The equally weighted basket includes Yum! Brands, Inc., Boeing Co., Proctor & Gamble Co., Cisco Systems, Inc., Merck & Co., Inc., Macy’s, Inc., JPMorgan Chase & Co., Marathon Petroleum Corp., Lockheed Martin Corp. and Apple 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 0.75%.

If a stock’s return is zero or positive, its performance will be fixed at 5% to 5.5%. 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.

Barclays is the agent. Incapital LLC is the distributor.

The CDs will price Jan. 26 and settle Jan. 29.

The Cusip number is 06740A3U1.

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