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Bank of Montreal plans contingent risk absolute return notes linked to SPDR Dow Jones fund
By Susanna Moon
Chicago, Nov. 4 – Bank of Montreal plans to price 0% contingent risk absolute return notes due Nov. 30, 2020 linked to the SPDR Dow Jones Industrial Average exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above the initial level, the payout at maturity will be par plus 105% of the gain.
If the fund falls but finishes at or above the 70% barrier level, the payout will be par plus the absolute value of the fund return, up to a maximum return of 30%.
Otherwise, 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. 28.
The Cusip number is 06366RXP5.
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