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Union Bank plans seven-year market-linked CDs tied to S&P 500 index
By Susanna Moon
Chicago, March 3 - Union Bank, NA plans to price zero-coupon principal-protected market-linked certificates of deposit due March 30, 2018 linked to S&P 500 index, according to a term sheet.
The payout at maturity will be par plus any index gain, up a maximum return of 52% to 60%.
The CDs will be putable quarterly beginning March 15, 2012.
Incapital LLC is the distributor.
The CDs will price on March 25 and settle on March 30.
The Cusip is 90521AFA1.
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