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BMO plans bullish digital return notes with barrier on Russell 2000
By Devika Patel
Knoxville, Tenn., March 21 – Bank of Montreal plans to price 0% bullish digital return notes with barrier due April 30, 2018 linked to the Russell 2000 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 which is expected to be 13.75% and will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline of the index from its initial level if it finishes below 90% of the initial level.
BMO Capital Markets Corp. is the agent.
The notes (Cusip: 06367TUA6) are expected to price on March 28 and settle on March 31.
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