Bank of Montreal plans buffered bullish digital notes on Russell fund

By Jennifer Chiou

New York, Jan. 28 - Bank of Montreal plans to price 0% buffered bullish digital return notes due Feb. 29, 2016 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund gains, the payout at maturity will be par plus a digital return of 21.25% to 25.25%. 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: 06366RLL7) are expected to price on Feb. 25 and settle on Feb. 28.

BMO Capital Markets Corp. is the agent.

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