Union Bank to price market-linked CDs linked to currency basket

By Toni Weeks

San Luis Obispo, Calif., July 31 - Union Bank, NA plans to price market-linked certificates of deposit due Aug. 30, 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 110% to 130% of any basket gain and the coupon rate of 7%. The exact participation rate will be set at pricing.

If the basket falls, the payout will be par.

The notes are callable at par on the 15th of each March, June, September and December beginning on Sept. 15, 2014.

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

The CDs will price Aug. 28 and settle Aug. 30.

The Cusip number is 90521ANL8.

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