Union Bank to price certificates of deposit linked to four currencies

By Angela McDaniels

Tacoma, Wash., April 3 - Union Bank, NA plans to price 0% currency basket return market-linked certificates of deposit due April 30, 2018 linked to a basket of currencies, according to a term sheet.

The basket includes the Australian dollar, the Brazilian real, the Canadian dollar and the Norwegian krone, each with a 25% weight.

The payout at maturity will be par plus 100% to 125% of the basket return, subject to a minimum return of 5%. The exact participation rate will be set at pricing.

Beginning March 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. Participating brokers will receive a placement fee of up to 3%.

The notes are expected to price April 26 and settle April 30.

The Cusip number is 90521AMK1.

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