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Bank of Montreal plans buffered bullish digital notes tied to S&P 500
By Jennifer Chiou
New York, Nov. 28 - Bank of Montreal plans to price 0% buffered bullish digital return notes due Dec. 31, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus a digital return of 16% to 20%. The exact percentage will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
The notes (Cusip: 06366RJX4) are expected to price on Dec. 26 and settle on Dec. 31.
BMO Capital Markets Corp. is the agent.
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