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BMO plans bullish digital return notes with barrier tied to two ETFs
By Sarah Lizee
Olympia, Wash., June 7 – Bank of Montreal plans to price 0% bullish digital return notes with barrier due June 30, 2021 linked to the lesser performing of the SPDR S&P oil & gas exploration and production ETF and the Energy Select Sector SPDR fund, according to an FWP filed with the Securities and Exchange Commission.
If neither index closes below 70% of its initial level, the payout at maturity will be par plus the digital return of 21%.
Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
BMO Capital Markets Corp. is the agent.
The notes (Cusip: 06367WLX9) are expected to price on June 27.
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