Barclays Bank Delaware to price three-year CDs linked to five stocks

By Toni Weeks

San Luis Obispo, Calif., July 13 – Barclays Bank Delaware plans to price certificates of deposit due July 31, 2018 linked to a basket of five equally weighted common stocks, according to a term sheet.

The underlying companies are AT&T Inc., Chipotle Mexican Grill, Inc., Costco Wholesale Corp., Hewlett-Packard Co. and Pfizer Inc.

The CDs will pay a coupon each year based on the performances of the basket stocks. If each stock closes at or above its initial price on the coupon determination date, the coupon will be the maximum rate of 3% to 3.5%, with the exact maximum coupon to be set at pricing. Otherwise, the coupon will be the minimum rate of 0.5%.

The payout at maturity will be par.

Barclays is the agent. Incapital LLC is the distributor.

The CDs will price July 27 and settle July 30.

The Cusip number is 06740A6Z7.

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