Bank of Montreal plans buffered notes due 2016 linked to metals basket

By Susanna Moon

Chicago, Jan. 7 - Bank of Montreal plans to price 0% buffered notes due Jan. 29, 2016 based on a basket of four equally weighted metals, according to a 424B5 filing with the Securities and Exchange Commission.

The underlying metals are copper, lead, nickel and zinc.

The payout at maturity will be par plus any gain in the basket, up to a maximum redemption amount that is expected to be $2,250 to $2,500 per $1,000 principal amount of notes. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.

The notes will price on Jan. 26 and settle on Jan. 31.

BMO Capital Markets Corp. is the agent.

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