Bank of Montreal plans buffered bullish notes on S&P 500, Russell fund

By Susanna Moon

Chicago, Aug. 30 - Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Sept. 30, 2014 linked to a basket of two equally weight components, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying components are the S&P 500 index and the iShares Russell 2000 index fund.

The payout at maturity will be par plus double any gain in the basket, up to a maximum payout of $1,180 to $1,210 for each $1,000 principal amount. The exact cap will be set at pricing.

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

BMO Capital Markets Corp. is the agent.

The notes will price on Sept. 25 and settle on Sept. 28.

The Cusip number is 06366RHE8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.