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Bank of Montreal plans buffered bullish return notes on S&P 500
By Toni Weeks
San Diego, Sept. 6 - Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Sept. 30, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, subject to a maximum return of 8% to 9.5% that will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond the 10% buffer.
The notes (Cusip: 06366RHC2) will price Sept. 25 and settle Sept. 28.
BMO Capital Markets Corp. will be the agent.
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