Union Bank plans seven-year market-linked CDs tied to the Dow

By Marisa Wong

Madison, Wis., Sept. 4 - Union Bank, NA plans to price 0% average return market-linked certificates of deposit due Sept. 28, 2020 linked to the Dow Jones industrial average, according to a term sheet.

The payout maturity will be par plus the greater of the indexed interest amount and 7%.

The indexed interest amount is the (i) average of the 28 quarterly percentage changes minus the initial value divided by (ii) the initial value.

Beginning Sept. 15, 2014, the CDs will be putable on March 15, June 15, Sept. 15 and Dec. 15 of each year.

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

The CDs are expected to price on Sept. 25 and settle on Sept. 28.

The Cusip number is 90521APC6.

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