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Barclays Bank Delaware to price three-year CDs linked to five stocks
By Marisa Wong
Morgantown, W.Va., Oct. 16 – Barclays Bank Delaware plans to price certificates of deposit due Oct. 29, 2018 linked to a basket of five equally weighted common stocks, according to a term sheet.
The underlying companies are AT&T Inc., Bristol-Myers Squibb Co., Chipotle Mexican Grill, Inc., Costco Wholesale Corp. and Intel Corp.
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 3%. Otherwise, the coupon will be the minimum rate of 0.25% to 0.5%, with the exact minimum coupon to be set at pricing.
The payout at maturity will be par.
Barclays is the agent. Incapital LLC is the distributor.
The CDs will price Oct. 26 and settle Oct. 29.
The Cusip number is 06740FBE7.
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