Bank of Montreal plans notes with lookback feature linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 3 - Bank of Montreal plans to price 0% bullish enhanced return notes with lookback feature due Jan. 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The initial index level will be the lowest closing level of the index during the period that begins on the pricing date and ends one month later.

If the index return is positive, the payout at maturity will be par plus 200% of the increase, subject to a maximum return of 30%. If the index return is negative, investors will have 1-to-1 exposure to the decline.

BMO Capital Markets Corp. is the agent.

The notes are expected to price Jan. 28 and settle Jan. 31.

The Cusip number is 06366RSR7.

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