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Bank of Montreal plans enhanced return notes tied to iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., May 11 – Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Aug. 31, 2016 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum redemption amount of $1,170 per $1,000 principal amount of notes. Investors will receive par if the ETF declines by 5% or less and will lose 1% for every 1% that it declines beyond 5%.
BMO Capital Markets Corp. is the agent.
The notes are expected to price May 22 and settle May 28.
The Cusip number is 06366RN50.
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