Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for gold > News item |
Union Bank to price four-year market-linked CDs tied to gold price
By Jennifer Chiou
New York, Sept. 28 - Union Bank, NA plans to price zero-coupon capped return market-linked certificates of deposit due Oct. 27, 2014 linked to gold, according to a term sheet.
The payout at maturity will be par plus the gold return, subject to a minimum indexed interest amount of 2% and a maximum indexed interest amount of 80% to 112%. The exact cap will be set at pricing. Those indexed amounts translate to an annualized minimum of 0.5% and a maximum of 15.82% to 20.65% per year.
Beginning Sept. 15, 2011, the CDs will be putable on March 15, June 15, Sept. 15 and Dec. 15 of each year. The redemption amount may be less than par.
The CDs (Cusip: 90521ADB1) will price on Oct. 25 and settle on Oct. 27.
UnionBanc Investment Services, LLC is the agent.
© 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.