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BMO plans contingent risk absolute return notes on iShares MSCI EAFE
By Wendy Van Sickle
Columbus, Ohio, Sept. 15 – Bank of Montreal plans to price 0% contingent risk absolute return notes due Sept. 28, 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 never closes below the 67% to 71% 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 $1,290 to $1,330 per $1,000 principal amount.
Otherwise, investors will lose 1% for every 1% decline.
The exact deal terms will be set at pricing.
BMO Capital Markets Corp. is the agent.
The notes will price on Sept. 27 and settle on Sept. 30.
The Cusip number is 06367TKW9.
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