Union Bank plans market-linked CDs tied to four currencies

By Toni Weeks

San Diego, May 1 - Union Bank, NA plans to price market-linked certificates of deposit due May 31, 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 Australian dollar, the Brazilian real, the Canadian dollar and the Norwegian krone.

The payout at maturity will be par plus 100% to 125% times the basket return, subject to a minimum payment of $1,050 per $1,000 principal amount. The exact participation rate will be set at pricing.

The notes are callable on every March 15, June 15, September 15 and December 15 beginning June 15, 2013.

The CDs (Cusip: 90521AJU3) are expected to price May 29 and settle May 31.

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

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