Bank of Montreal to price 10% cash-settled autocallables linked to SPDR S&P Oil & Gas

By Toni Weeks

San Luis Obispo, Calif., June 10 – Bank of Montreal plans to price 10% autocallable cash-settled notes with fixed-interest payments due June 30, 2016 linked to the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the fund finishes above the 110% call level on any monthly call date, the notes will be called at par plus the coupon.

If the notes are not called, the payout at maturity will be par unless the fund closes below the 75% trigger level during the life of the notes and finishes below the initial price, in which case investors will be fully exposed to the decline in the fund from its initial price.

BMO Capital Markets Corp. is the agent.

The notes will price June 25 and settle June 30.

The Cusip number is 06366RP90.

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