| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Dow Jones Industrial Average > News item |
Union Bank plans capped return CDs tied to Dow Jones Industrial Average
By Angela McDaniels
Tacoma, Wash., Nov. 3 - Union Bank, NA plans to price zero-coupon principal-protected capped return market-linked certificates of deposit due Nov. 24, 2017 linked to the Dow Jones Industrial Average, according to a term sheet.
The payout at maturity will be par plus the index return, subject to a floor of par 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 will be calculated differently than the payout at maturity and may be less than par.
The CDs (Cusip 90521ADN5) will price Nov. 23 and settle Nov. 29.
UnionBanc Investment Services, LLC is the agent.
© 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.