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Barclays to price variable-coupon CDs linked to basket of indexes
By Angela McDaniels
Tacoma, Wash., May 5 - Barclays Bank Delaware plans to price certificates of deposit due May 29, 2020 linked to a basket of indexes, according to a term sheet.
The basket includes equal weights of the Euro Stoxx 50 index, the FTSE 100 index, the Hang Seng index and the S&P 500 index.
The CDs will pay a coupon each year equal to the basket return on the determination date for that year, subject to a minimum coupon of 0.5% and a maximum coupon that is expected to be 3.5% to 4% and will be set at pricing.
The payout at maturity will be par plus the final coupon.
Barclays is the agent. Incapital LLC is distributor. The fees are expected to be 4% or less.
The CDs will price May 23 and settle May 30.
The Cusip number is 06740AS67.
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