BMO plans contingent risk absolute return notes tied to SPDR S&P Oil

By Susanna Moon

Chicago, Nov. 8 – Bank of Montreal plans to price 0% contingent risk absolute return notes with digital upside due May 29, 2020 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 fund finishes above its initial level, the payout at maturity will be par plus the digital return of 23.5%.

If the fund falls by up to 25%, the payout will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for each 1% decline.

BMO Capital Markets Corp. is the agent.

The notes will price on Nov. 27 and settle on Nov. 30.

The Cusip number is 06367TP38.

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