BMO plans 9% autocallable cash-settled notes on Nasdaq Biotech ETF

By Devika Patel

Knoxville, Tenn., Oct. 25 – Bank of Montreal plans to price 9% autocallable cash-settled notes with fixed interest payments due Nov. 30, 2017 linked to the iShares Nasdaq Biotechnology exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par plus the coupon if the fund closes above the 110% call level on any call date beginning June 27, 2017.

The payout at maturity will be par plus the coupon due unless the fund finishes below its initial level and closes below the 80% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline.

BMO Capital Markets Corp. is the agent.

The notes (Cusip: 06367TMR8) will price on Nov. 28 and settle on Nov. 30.

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