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Bank of Montreal plans autocallable barrier notes linked to Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Aug. 1 - Bank of Montreal plans to price autocallable barrier notes with step-up call price due Aug. 31, 2015 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 9.75% per year if the index's closing level is greater than the initial index level on Aug. 27, 2014 or Aug. 27, 2015.
If the notes are not called, the payout at maturity will be par unless the final index level is less than the barrier level, 80% of the initial level, in which case investors will lose 1% for every 1% that the final level is less than the initial level.
BMO Capital Markets Corp. is the agent.
The notes are expected to price Aug. 28 and settle Aug. 30.
The Cusip number is 06366RQK4.
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