Union Bank plans five-year market-linked CDs tied to BRIC currencies

By Toni Weeks

San Diego, Feb. 3 - Union Bank, NA plans to price market-linked certificates of deposit due Feb. 27, 2017 linked to an equally weighted basket of four currencies relative to the dollar, according to a pricing sheet.

The 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 110% to 140% of the basket return, subject to a minimum payment of $1,050 per $1,000 deposit amount. The exact participation rate will be set at pricing.

The notes are callable on every March 15, June 15, Sept. 15 and Dec. 15 beginning March 15, 2013.

The CDs (Cusip: 90521AJC3) are expected to price Feb. 22 and settle Feb. 27.

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

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