Union Bank plans to price market-linked CDs tied to four currencies

By Toni Weeks

San Diego, May 2 - Union Bank, NA plans to price 0% market-linked certificates of deposit due May 27, 2015 linked to the performance of a basket of four currencies relative to the dollar, according to a pricing sheet.

The equally weighted basket is comprised of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The payout at maturity will be par plus the participation rate of 125% to 150% times the basket return, subject to a minimum payment of $1,040 per $1,000 deposit amount. The exact participation rate will be set at pricing.

The CDs are callable on every March 15, June 15, Sept. 15 and Dec. 15 beginning June 15, 2012.

The CDs (Cusip: 90521AFR4) are expected to price May 25 and settle May 27.

UnionBanc Investment Services, LLC is the agent, and Incapital LLC is the distributor.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.