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Barclays to price CDs linked to index basket with semiannual averaging
By Angela McDaniels
Tacoma, Wash., Sept. 5 – Barclays Bank Delaware plans to price 0% certificates of deposit due Sept. 30, 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 payout at maturity will be par plus the average of the four indexes’ component returns, subject to a minimum return that is expected to be 4% to 5% and will be set at pricing.
For each index, the component return will be the average of its returns on the 24th day of each September and March during the term of the CDs beginning March 24, 2015. Each semiannual return will be measured relative to the initial index level.
Barclays is the agent. Incapital LLC is distributor.
The CDs will price Sept. 24 and settle Sept. 30.
The fees are expected to be no more than 4%.
The Cusip number is 06740AZ69.
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