Bank of Montreal plans bullish enhanced return notes linked to oil ETF

By Angela McDaniels

Tacoma, Wash., April 17 – Bank of Montreal plans to price 0% bullish enhanced return notes due Nov. 7, 2016 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return that is expected to be 45.5% to 50.5% and will be set at pricing. If the ETF return is negative, investors will be fully exposed to the decline.

BMO Capital Markets Corp. is the agent.

The notes will price April 30 and settle May 5.

The Cusip number is 06366RJ89.

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