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Union Bank to price market-linked CDs linked to currency basket
By Susanna Moon
Chicago, June 28 - Union Bank, NA plans to price market-linked certificates of deposit due July 31, 2018 linked to an equally weighted basket of four currencies relative to the dollar, according to a pricing sheet.
The underlying currencies are the Australian dollar, Brazilian real, Canadian dollar and Norwegian krone.
The payout at maturity will be par plus the greater of 100% to 125% of any basket gain and the coupon rate of 5%.
If the basket falls, the payout will be par.
UnionBanc Investment Services, LLC is the agent. Incapital LLC is the distributor.
The CDs will price on July 29 and settle on July 31.
The Cusip number is 90521ANE4.
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