Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for iShares Russell 2000 index fund > News item |
Bank of Montreal plans 8%-10% two-year autocallable reverse exchangeables tied to iShares Russell
By Susanna Moon
Chicago, Dec. 2 - Bank of Montreal plans to price 8% to 10% autocallable reverse exchangeable notes due Dec. 30, 2013 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the closing fund price is at or above the initial price on any quarterly call date.
The payout at maturity will be par unless the fund ever closes below the trigger price - 60% of the initial share price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of shares equal to $1,000 divided by the initial price or, at the issuer's option, the cash equivalent.
BMO Capital Markets Corp. is the agent.
The notes will price on Dec. 22 and settle on Dec. 28.
The Cusip number is 06366QQ75.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.