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Union Bank plans quarterly capped return CDs linked to BRIC currencies
By Susanna Moon
Chicago, Oct. 4 - Union Bank, NA plans to price 0% quarterly capped return market-linked certificates of deposit due Oct. 31, 2017 linked to a basket of equally weighted currencies, according to a term sheet.
The underlying currencies are the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.
The payout at maturity will be par plus 120% to 140% of any basket gain, with a minimum indexed interest amount of 5%.
The CDs will be putable on any quarterly date after one year.
UnionBanc Investment Services, LLC is the agent. Incapital LLC is distributor.
The CDs will price on Oct. 29 and settle on Oct. 31.
The Cusip number is 90521APL6.
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