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Bank of Montreal plans absolute return notes linked to SPDR Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Aug. 1 – Bank of Montreal plans to price 0% contingent risk absolute return notes due Aug. 31, 2020 linked to the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 111% of the ETF return.
If the ETF return is less than or equal to zero but not less than negative 40%, the payout will be par plus the absolute value of the ETF return.
If the ETF return is less than negative 40%, investors will be fully exposed to the ETF's decline.
BMO Capital Markets Corp. is the agent.
The notes are expected to price Aug. 27 and settle Aug. 29.
The Cusip number is 06366RVN2.
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