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Bank of Montreal plans contingent risk notes linked to SPDR Dow
By Susanna Moon
Chicago, March 4 – Bank of Montreal plans to price 0% contingent risk absolute return notes due March 31, 2021 linked to the SPDR Dow Jones Industrial Average ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above its initial level, the payout at maturity will be par plus 101% the return.
If the fund falls by up to 30%, the payout will be par plus the absolute value of the index return, up to a maximum return of 30%.
If the fund falls below the 70% barrier level, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on March 26 and settle on March 31.
The Cusip number is 06366RC78.
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