| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Union Bank plans five-year annual high watermark CDs linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 7 - Union Bank, NA plans to price 0% annual high watermark return certificates of deposit due April 28, 2016 linked to the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus the greatest of the five annual performance values, subject to a floor of par.
For each year, the annual performance value will be the sum of the index's returns in the months of that year. The return in each month can be positive or negative and will be capped at 2.25% to 2.75%. The exact cap will be set at pricing.
Beginning March 15, 2012, the CDs will be putable on March 15, June 15, Sept. 15 and Dec. 15 of each year.
The CDs (Cusip: 90521AFK9) will price April 25 and settle April 28.
UnionBanc Investment Services, LLC is the agent. Incapital LLC is the distributor.
© 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.