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Barclays Bank Delaware plans CDs due 2022 tied to three equity indexes
By Toni Weeks
San Luis Obispo, Calif., Feb. 9 – Barclays Bank Delaware plans to price certificates of deposit due Feb. 28, 2022 linked to a basket of three equally weighted international equity indexes, according to a term sheet.
The underlying indexes are S&P 500 index, Euro Stoxx 50 index and Nikkei Stock Average index.
The payout at maturity will be par plus the basket return factor, subject to a minimum return of 4% to 5%. The basket return factor is 75% of the basket return, and the basket return is the average of the basket component returns. For each index, the basket component return is the average of the periodic index returns measured from the pricing date to the relevant quarterly observation date.
The exact terms will be set at pricing.
The CDs (Cusip: 06740A4Q9) are expected to price Feb. 24 and settle Feb. 27.
Barclays is the agent. Incapital LLC is the distributor.
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