Bank of Montreal plans digital return notes linked to SPDR Gold Trust

By Toni Weeks

San Diego, May 13 - Bank of Montreal plans to price 0% buffered bullish digital return notes due May 31, 2013 linked to the SPDR Gold Trust, 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 a digital coupon of 9.5% to 11.5%. The exact coupon will be set at pricing.

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: 06366QKL0) are expected to price on May 26 and settle May 31.

BMO Capital Markets Corp. is the agent.

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