Union Bank to price market-linked CDs tied to BRIC currencies

By Jennifer Chiou

New York, Jan. 9 - Union Bank, NA plans to price market-linked certificates of deposit due Jan. 31, 2018 linked to an equally weighted basket of four currencies relative to the dollar, according to a pricing sheet.

The basket is comprised of the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.

The payout at maturity will be par plus the greater of any basket gain and the coupon rate of 13% to 15%. If the basket declines or finishes flat, the payout will be par.

The notes are callable on every March 15, June 15, Sept. 15 and Dec. 15 beginning on Dec. 15, 2013.

The CDs (Cusip: 90521ALP1) are expected to price on Jan. 28 and settle on Jan. 31.

UnionBanc Investment Services, LLC is the agent.

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