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Barclays Bank Delaware plans to price six-year CDs tied to 10 stocks
By Angela McDaniels
Tacoma, Wash., Sept. 13 – Barclays Bank Delaware plans to price certificates of deposit due Sept. 29, 2022 linked to a basket of stocks, according to a term sheet.
The equally weighted basket includes AbbVie Inc., AT&T Inc., CME Group Inc., Costco Wholesale Corp., Duke Energy Corp., HP Inc., Intel Corp., LyondellBasell Industries NV, Pfizer Inc. and Valero Energy Corp.
The CDs will pay a coupon each year equal to the average of the performances of the stocks, subject to a minimum coupon of 0.5%.
If a stock’s return is zero or positive, its performance will be fixed at 4%. If a stock’s return is less than zero, its performance will be the greater of the stock return and negative 15%.
The payout at maturity will be par plus the final coupon.
Barclays is the agent. Incapital LLC is the distributor.
The CDs will price Sept. 26.
The Cusip number is 06740FFQ6.
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