BMO to price 11.4% autocallable cash-settled notes on oil and gas ETF

By Wendy Van Sickle

Columbus, Ohio, April 5 – Bank of Montreal plans to price 11.4% autocallable cash-settled notes with fixed interest payments due on April 28, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the fund finishes above the 110% call level on any of six monthly call dates from November 2016 through April 2017, the notes will be called at par plus the coupon.

The payout at maturity will be par plus the coupon due unless the fund finishes below the 70% trigger level any day during the life of the notes and finishes below its initial level, in which case investors will be fully exposed to the final loss.

BMO Capital Markets Corp. is the agent.

The notes will price on April 26 and settle on April 29.

The Cusip number is 06367TCM0.

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