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Barclays plans CDs due 2022 linked to basket of five common stocks
By Angela McDaniels
Tacoma, Wash., Jan. 8 – Barclays Bank Delaware plans to price certificates of deposit due Jan. 28, 2022 linked to a basket of stocks, according to a term sheet.
The basket includes AT&T Inc., Bristol-Myers Squibb Co., Costco Wholesale Corp., Intel Corp. and Nike, Inc.
The CDs will pay a coupon each year. If each basket stock closes at or above its initial share price on the coupon determination date for that year, the coupon rate will be the maximum coupon rate, which is expected to be 5% to 5.5% and will be set at pricing. Otherwise, the coupon rate for that year will be the minimum coupon rate, 0.75%.
The payout at maturity will be par.
Barclays is the agent. Incapital LLC is distributor.
The CDs will price Jan. 25.
The Cusip number is 06740FCS5.
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