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BMO plans contingent risk absolute return notes on SPDR S&P Oil & Gas
By Susanna Moon
Chicago, May 17 – Bank of Montreal plans to price 0% contingent risk absolute return notes with digital upside due May 31, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above its initial level, the payout at maturity will be par plus the digital return of 16.5%.
If the fund falls by up to the 70% barrier level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for each 1% decline.
BMO Capital Markets Corp. is the agent.
The notes will price on May 25 and settle on May 31.
The Cusip number is 06367TWP1.
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