Bank of Montreal plans contingent risk absolute return notes on SPDR Dow

By Jennifer Chiou

New York, March 5 – Bank of Montreal plans to price 0% contingent risk absolute return notes due March 31, 2021 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 the return.

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.

The notes (Cusip: 06366RD85) will price on March 26 and settle on March 31.

BMO Capital Markets Corp. is the agent.

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