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Barclays Bank to price five-year CDs linked to Russell 2000 index
By Angela McDaniels
Tacoma, Wash., June 6 – Barclays Bank Delaware plans to price 0% certificates of deposit due June 27, 2019 linked to the Russell 2000 index, according to a term sheet.
The payout at maturity will be par plus the sum of the quarterly returns, subject to a minimum return of 5%.
The quarterly returns are the index's return on each of the 20 quarterly observation dates throughout the life of the CDs. Each quarterly return can be positive or negative, subject to a cap of 4% to 4.5% that will be set at pricing, and will be measured from the end of the prior quarter.
Barclays is the agent. Incapital LLC is distributor. The fees are expected to be 2.75%.
The CDs will price June 24 and settle June 30.
The Cusip number is 06740AT66.
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