Barclays Bank Delaware plans five-year CDs on BRIC currency basket

By Jennifer Chiou

New York, Oct. 10 - Barclays Bank Delaware plans to price certificates of deposit due Oct. 30, 2017 linked to a basket of four equally weighted currencies relative to the dollar, according to a term sheet.

The underlying currencies are the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

If the basket finishes above the initial level, the payout at maturity will be par plus the greater of the gain and the contingent minimum return of 9% to 13%.

If the basket falls, the payout will be par.

The exact deal terms will be set at pricing.

The CDs (Cusip: 06740AWG0) are expected to price on Oct. 25 and settle on Oct. 31.

Barclays is the agent. Advisors Asset Management, Inc. is the distributor.

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