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Bank of Montreal plans barrier bullish notes tied to iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., Feb. 3 - Bank of Montreal plans to price 0% barrier bullish return notes due Feb. 28, 2019 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the ETF closes below its barrier level, 60% of its initial share price, on any day during the life of the notes.
If the ETF return is positive, the payout at maturity will be par plus 107% of the ETF return.
If the ETF return is zero or negative and a barrier event does not occur, the payout at maturity will be par.
If the ETF return is zero or negative and a barrier event occurs, investors will have 1-to-1 exposure to the ETF's decline.
BMO Capital Markets Corp. is the agent.
The notes are expected to price Feb. 26 and settle Feb. 28.
The Cusip number is 06366RTB1.
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