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BMO plans contingent risk absolute return notes on iShares MSCI EAFE
By Devika Patel
Knoxville, Tenn., April 13 – Bank of Montreal plans to price 0% contingent risk absolute return notes due April 30, 2018 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above the initial level, the payout at maturity will be par plus the fund gain.
If the fund falls, but the fund level has never fallen below the barrier level during the life of the notes, the payout will be par plus the absolute value of the return, up to a maximum return of $1,315 to $1,355 per $1,000 of notes. The barrier level is expected to fall between 64.5% and 68.5% of the initial fund level and will be set at pricing along with the maximum return amount.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes (Cusip: 06367TDM9) will price on April 26 and settle on April 29.
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