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Union Bank plans market-linked CDs due 2018 tied to BRIC currencies
By Jennifer Chiou
New York, Jan. 6 - Union Bank, NA plans to price 0% market-linked certificates of deposit due Jan. 31, 2018 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 125% to 150% of any basket gain, with a minimum indexed interest amount of 4%.
The CDs will be redeemable on any quarterly redemption date beginning on Dec. 15, 2014.
The CDs (Cusip: 90521AQD3) are expected to price on Jan. 28 and settle on Jan. 31.
UnionBanc Investment Services, LLC is the agent. Incapital LLC is the distributor.
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