Union Bank plans to price five-year CDs linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., March 30 - Union Bank, NA plans to price 0% market-linked certificates of deposit due April 28, 2016 linked to a basket of currencies, according to a term sheet.

The basket includes equal weights of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The payout at maturity will be par plus 175% to 200% of the basket return, subject to a minimum return of 5%. The exact participation rate will be set at pricing.

Beginning March 15, 2012, the CDs will be putable on March 15, June 15, Sept. 15 and Dec. 15 of each year.

The CDs (Cusip: 90521AFF0) are expected to price April 26 and settle April 28.

UnionBanc Investment Services, LLC is the agent. 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.