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Bank of Montreal plans contingent coupon barrier notes on Gold Miners
By Susanna Moon
Chicago, Oct. 16 - Bank of Montreal plans to price contingent coupon barrier notes due Oct. 31, 2014 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above 80% barrier level on a quarterly observation date, the notes will pay a 2.55% coupon for that period.
If the shares finish at or above the 80% barrier level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on Oct. 26 and settle on Oct. 31.
The Cusip number is 06366RHT5.
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