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Bank of Montreal plans 7.2% autocallables tied to Nasdaq Biotech ETF
New York, Oct. 5 – Bank of Montreal plans to price 7.2% autocallable cash-settled notes with fixed interest payments due Oct. 31, 2016 linked to the iShares Nasdaq Biotechnology exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the fund closes above the 110% call level on any monthly call date starting Feb. 24, 2016.
The payout at maturity will be par unless the fund closes below the 70% trigger level at any time during the life of the notes, in which case investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on Oct. 27 and settle on Oct. 30.
The Cusip number is 06366R2V6.
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