Bank of Montreal plans autocallable barrier notes linked to S&P 500

By Susanna Moon

Chicago, Feb. 28 - Bank of Montreal plans to price 0% autocallable barrier notes with step-up call price due March 31, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level on any annual call date, the notes will be called at par plus a premium of 6.5%.

The payout at maturity will be par if the index falls by up to 25%.

Otherwise, investors will be fully exposed to any losses if index finishes below the 75% barrier level.

BMO Capital Markets Corp. is the agent.

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

The Cusip number is 06366RLT0.

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