Union Bank to price market-linked CDs tied to four currencies

By Jennifer Chiou

New York, July 6 - Union Bank, NA plans to price market-linked certificates of deposit due July 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% 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 on June 15, 2013.

The CDs (Cusip: 90521AKD9) are expected to price on July 26 and settle on July 30.

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

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