Bank of Montreal plans 1% autocallables linked to SPDR S&P Oil & Gas

By Susanna Moon

Chicago, Nov. 10 – Bank of Montreal plans to price 1% autocallable cash-settled notes with step-up call price due Nov. 30, 2016 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.

Interest will be payable monthly.

If the fund finishes above the 110% call level on any monthly call date, the notes will be called at par plus the coupon.

The payout at maturity will be par unless the fund finishes below the 70% trigger level, in which case investors will be fully exposed to any losses.

BMO Capital Markets Corp. is the agent.

The notes will price on Nov. 24 and settle on Nov. 30.

The Cusip number is 06366R3T0.

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