Bank of Montreal plans two-year buffered notes tied to four currencies

By Susanna Moon

Chicago, July 5 - Bank of Montreal plans to price 0% buffered currency-linked notes due July 2013 linked to the performance of a basket of equally weighted currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying currencies are the Brazilian real, the Australian dollar, the Canadian dollar and the Norwegian krone.

The payout at maturity will be par plus 200% to 220% of any basket gain, up to a maximum payout of $1,200 to $1,220 per $1,000 principal amount. The exact amounts will be set at pricing.

Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

BMO Capital Markets Corp. is the underwriter.

The notes will price on July 12 and settle on July 15.

The Cusip number is 06366QRF6.

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