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Bank of Montreal plans 0.5% tracking notes linked to four currencies
By Angela McDaniels
Tacoma, Wash., Jan. 31 - Bank of Montreal plans to price 0.5% currency-linked basket tracking notes due February 2013, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Australian dollar, the Canadian dollar, the New Zealand dollar and the Norwegian krone. The basket represents a long positive in the currencies relative to the U.S. dollar.
Interest will be payable at maturity.
The payout at maturity will be par plus the basket return. Accordingly, investors will receive more than par if the basket return is positive and less than par if the basket return is negative.
The notes will price and settle in February.
BMO Capital Markets Corp. is the underwriter.
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