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BMO plans bullish digital return notes with barrier linked to S&P 500
By Devika Patel
Knoxville, Tenn., Feb. 21 – Bank of Montreal plans to price 0% bullish digital return notes with barrier due March 29, 2018 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the digital return of 10.75%.
If the index remains flat or falls by up to 10%, the payout will be par. If the index falls by more than 10%, investors will lose 1% for each 1% that the index declines from its initial level.
BMO Capital Markets Corp. is the agent.
The notes (Cusip: 06367TSM3) are expected to price on Feb. 23 and settle on Feb. 28.
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