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

By Marisa Wong

Madison, Wis., Sept. 4 - Union Bank, NA plans to price market-linked certificates of deposit due Sept. 28, 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 minimum indexed interest amount of 7%. The exact participation rate will be set at pricing.

Beginning Sept. 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.

The CDs are expected to price on Sept. 26 and settle on Sept. 30.

The Cusip number is 90521ANY0.

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