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Bank of Montreal plans contingent risk absolute return notes on S&P 500
By Marisa Wong
Madison, Wis., April 17 – Bank of Montreal plans to price 0% contingent risk absolute return notes due April 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the return.
If the index falls by up to 25%, the payout will be par plus the absolute value of the index return, up to a maximum return of 25%.
If the index falls below the 75% barrier level, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes are expected to price on April 27 and settle on April 30.
The Cusip number is 06366RH40.
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