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Bank of Montreal plans upside booster notes on SPDR S&P Oil & Gas ETF
By Toni Weeks
San Luis Obispo, Calif., May 6 – Bank of Montreal plans to price 0% upside booster notes with barrier due May 31, 2018 linked to the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is greater than 15%, the payout at maturity will be par plus the fund return.
If the fund return is between negative 10% and positive 15%, inclusive, the payout will be par plus 15%.
If the fund return is less than negative 10%, investors will be fully exposed to any losses.
The notes (Cusip: 06366RL94) will price May 22 and settle May 29.
BMO Capital Markets Corp. is the agent.
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