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Barclays Bank to price CDs due 2020 linked to Russell 2000 index
By Toni Weeks
San Luis Obispo, Calif., Jan. 9 – Barclays Bank Delaware plans to price 0% certificates of deposit due Jan. 29, 2020 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 the distributor.
The CDs (Cusip: 06740A3Y3) will price Jan. 26 and settle Jan. 29.
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