Bank of Montreal plans buffered bullish notes on SPDR S&P oil fund

By Susanna Moon

Chicago, Feb. 24 – Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Feb. 28, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any fund gain, up to a maximum return of 27%.

Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

BMO Capital Markets Corp. is the agent.

The notes will price on Feb. 25 and settle on Feb. 27.

The Cusip number is 06366RC86.

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