Union Bank plans to price four-year CDs linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., June 1 - Union Bank, NA plans to price 0% market-linked certificates of deposit due June 29, 2015 linked to the performance of a basket of currencies relative to the dollar, according to a term sheet.

The basket includes equal weights of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The payout at maturity will be par plus 125% to 150% of the basket return, subject to a minimum return of 4%. The exact participation rate will be set at pricing.

Beginning June 15, 2012, the CDs will be putable on March 15, June 15, Sept. 15 and Dec. 15 of each year.

The CDs (Cusip: 90521AFY9) are expected to price June 27 and settle June 29.

UnionBanc Investment Services, LLC is the agent. Advisors Asset Management, Inc. and Incapital LLC are distributors.

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