Barclays Bank Delaware plans five-year CDs on BRIC currencies

By Jennifer Chiou

New York, Nov. 13 - Barclays Bank Delaware plans to price certificates of deposit due Nov. 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 10% to 13%.

If the basket falls, the payout will be par.

The exact deal terms will be set at pricing.

The CDs (Cusip: 06740AWT2) are expected to price on Nov. 27 and settle on Nov. 30.

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

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