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

By Toni Weeks

San Luis Obispo, Calif., May 8 – Barclays Bank Delaware plans to price certificates of deposit due May 28, 2021 linked to a basket of five equally weighted common stocks, according to a term sheet.

The underlying companies are Apple Inc., Coca-Cola Co., International Business Machines Corp., Merck & Co., Inc. and Verizon Communications 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 5%. Otherwise, the coupon will be the minimum rate of 0.75% to 1%. The exact minimum coupon will be set at pricing.

The payout at maturity will be par.

Barclays is the agent. Incapital LLC is the distributor.

The CDs will price May 22 and settle May 28.

The Cusip number is 06740A5Y1.

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