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Barclays Bank Delaware to price seven-year CDs tied to S&P 500
By Jennifer Chiou
New York, Oct. 10 - Barclays Bank Delaware plans to price certificates of deposit due Oct. 30, 2018 linked to the S&P 500 index, according to a term sheet.
The CDs will pay a coupon of 0.15% to 0.4% on the 31st of October each year. The exact coupon rate will be set at pricing.
The payout maturity will be par plus the sum of the 24 quarterly index returns, subject to a floor of zero.
Each quarterly index return is subject to a cap of 3% to 5% and a floor of negative 25%. The actual cap will be set at pricing.
The CDs (Cusip: 06740AWH8) are expected to price on Oct. 25 and settle on Oct. 31.
Barclays is the agent. Advisors Asset Management, Inc. is the distributor.
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