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Union Bank to sell capped return CDs on Dow Jones-UBS Commodity index
By Marisa Wong
Madison, Wis., Jan. 3 - Union Bank, NA plans to price zero-coupon principal-protected capped return market-linked certificates of deposit due Jan. 25, 2018 linked to the Dow Jones-UBS Commodity index, according to a term sheet.
The payout at maturity will be par plus the index return, subject to a minimum return of 14% and a maximum return of 70% to 80%. The exact cap will be set at pricing.
Beginning Dec. 15, 2011, the CDs will be putable on March 15, June 15, Sept. 15 and Dec. 15 of each year. The redemption amount may be less than par.
The CDs (Cusip: 90521AEG9) are expected to price Jan. 25 and settle Jan. 28.
UnionBanc Investment Services, LLC is the agent. Advisors Asset Management, Inc.is the distributor.
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