Bank of Montreal to price autocallables linked to SPDR Dow Jones

By Angela McDaniels

Tacoma, Wash., Feb. 26 - Bank of Montreal plans to price 0% autocallable cash-settled notes with step-up call price due March 31, 2015 linked to the SPDR Dow Jones industrial average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 7.25% per year if the ETF closes above its initial share price on March 26, 2014 or March 26, 2015.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the trigger price, in which case investors will be fully exposed to the ETF's decline from its initial level. The trigger price is 85% of the initial share price.

BMO Capital Markets Corp. is the agent.

The notes are expected to price March 25 and settle March 28.

The Cusip number is 06366RLV5.

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