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Bank of Montreal plans bullish enhanced return notes tied to S&P 500
By Angela McDaniels
Tacoma, Wash., March 4 – Bank of Montreal plans to price 0% buffered bullish enhanced return notes due March 29, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum payout of $1,420 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BMO Capital Markets Corp. is the agent.
The notes are expected to price March 26 and settle March 31.
The Cusip number is 06366RE43.
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