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Bank of Montreal to price 4% autocallables linked to Gold Miners ETF
By Angela McDaniels
Tacoma, Wash., April 7 - Bank of Montreal plans to price 4% autocallable cash-settled notes with step-up call price due April 29, 2016 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable April 30, 2015 and at maturity.
The notes will be automatically called at par plus 10% per year if the ETF's closing share price is greater than the initial share price on April 27, 2015 or April 26, 2016.
The payout at maturity will be par unless the final share price is less than the trigger price, 77.5% of the initial share price, in which case investors will lose 1% for every 1% that the final share price is below the initial share price.
BMO Capital Markets Corp. is the agent.
The notes will price April 25 and settle April 30.
The Cusip number is 06366RTU9.
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