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Bank of Montreal plans 7.8% autocallables linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., May 26 – Bank of Montreal plans to price autocallable cash-settled notes with 7.8% fixed interest payments due Sept. 10, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Beginning Jan. 4, 2018, the notes will be automatically called at par if each index closes above its initial level on any monthly observation date.
If the notes are not called, the payout at maturity will be par unless either index closes below its trigger level, 70% of its initial level, during the life of the notes and either index finishes below its initial level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
BMO Capital Markets Corp. is the agent.
The notes will price June 6.
The Cusip number is 06367TXJ4.
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