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Bank of Montreal plans autocallable barrier notes tied to Euro Stoxx
By Toni Weeks
San Luis Obispo, Calif., June 6 - Bank of Montreal plans to price 0% autocallable barrier notes with step-up call price due June 30, 2016 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
On any annual call date, if the closing index level is greater than the initial level, the notes will be called. The call return will be 10.5% on June 25, 2014, 21% on June 25, 2015 and 31.5% on June 27, 2016.
If the notes are not called, the payout at maturity will be par if the index falls by up to 20%. Investors will be fully exposed to the decline in the index if the index falls by more than 20%.
The notes (Cusip: 06366RPD1) are expected to price June 25 and settle June 28.
BMO Capital Markets Corp. is the agent.
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