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Bank of Montreal plans buffered bullish digital notes tied to iShares Russell 2000 index fund
By Jennifer Chiou
New York, March 2 - Bank of Montreal plans to price 0% buffered bullish digital return notes due Sept. 28, 2012 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus the 11.3% digital return.
Investors will receive par if the fund falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 06366QCS4) are expected to price on March 28 and settle on March 31.
BMO Capital Markets Corp. is the agent.
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