BMO plans contingent risk absolute return notes tied to utilities fund

By Susanna Moon

Chicago, Aug. 29 – Bank of Montreal plans to price 0% contingent risk absolute return notes due Sept. 30, 2019 linked to the Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes above the initial level, the payout at maturity will be par plus the gain.

If the fund falls but finishes above the barrier level, 83% of the initial level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

BMO Capital Markets Corp. is the agent.

The notes will price on Sept. 27 and settle on Sept. 30.

The Cusip number is 06367TKN9.

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