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Article: Union Bank Expands Its FDIC-Insured Market-Linked CD Offerings to Commodity Prices.
- Article from:
- Investment Weekly News
- Article date:
- October 17, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Union Bank, N.A., announced it will be offering its principal- and Federal Deposit Insurance Corporation (FDIC)-protected market-linked certificates of deposit (MLCD) linked to the Dow Jones-UBS Commodity IndexSM1. The product reflects the bank's expansion from MLCDs linked to the Standard & Poor's 500[R] Index2 to an index composed of 19 commodities. The offering will be available from Sept. 28 to Oct. 23 and will enable investors to diversify their portfolios and potentially hedge against inflation while protecting their principal when held to maturity.
"As developing countries increase their demand for raw materials, thereby pushing commodity prices higher, ...
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