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Bank of Montreal plans buffered bullish notes on gold, silver funds
By Susanna Moon
Chicago, Dec. 5 - Bank of Montreal plans to price 0% buffered bullish enhanced return notes due June 18, 2015 linked to a basket of two equally weighted funds, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying funds are the SPDR Gold trust and the iShares Silver trust.
The payout at maturity will be par of $1,000 plus double any gain in the basket, up to a maximum redemption amount of $1,235 to $1,265. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
BMO Capital Markets Corp. will be the agent.
The notes will price on Dec. 13 and settle on Dec. 18.
The Cusip number is 06366RKH7.
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