BMO plans 8.4% cash-settled autocallables tied to SPDR S&P Oil & Gas

By Susanna Moon

Chicago, Jan. 5 – Bank of Montreal plans to price 8.4% autocallable cash-settled notes with fixed interest payments due Jan. 31, 2018 linked to SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par plus the coupon if the fund closes above the 110% call level on any monthly call date.

The payout at maturity will be par plus the coupon due unless the fund finishes below its initial level and closes below the 70% trigger level 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 Jan. 26 and settle on Jan. 31.

The Cusip number is 06367TQX1.

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