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Bank of Montreal plans contingent risk absolute return notes on Stoxx
By Marisa Wong
Morgantown, W.Va., April 11 – Bank of Montreal plans to price 0% contingent risk absolute return notes due April 29, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus 1.1 times the index gain.
If the index falls but not below the barrier level, 70% of the initial level, the payout will be par plus the absolute value of the return, up to a maximum downside redemption amount of $1,300 per $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on April 26 and settle on April 29.
The Cusip number is 06367TCL2.
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