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Bank of Montreal plans contingent risk absolute return notes on S&P 500
By Jennifer Chiou
New York, Oct. 16 – Bank of Montreal plans to price 0% contingent risk absolute return notes due Oct. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus 111% of the return.
If the index falls but not by more than 30%, the payout will be par plus the absolute value of the index return.
If the index finishes below the barrier level, 70% of the initial level, investors will share in losses.
The notes (Cusip: 06366RXL4) will price on Oct. 28 and settle on Oct. 31.
BMO Capital Markets Corp. is the agent.
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