BMO plans contingent coupon autocallables on VanEck Vectors Gold Miners

By Susanna Moon

Chicago, Jan. 6 – Bank of Montreal plans to price autocallable barrier notes with contingent coupon due Jan. 31, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a conditional quarterly coupon at an annual rate of 6% if the fund closes at or above its 60% coupon barrier on any observation date for that quarter.

The notes will be called at par if the fund closes above its initial level on any call date beginning on Aug. 28, 2017.

The payout at maturity will be par the fund finishes below its 60% trigger level, in which case investors 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 06367TRJ1.

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