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BMO plans contingent risk absolute return notes on iShares MSCI EAFE
New York, July 14 – Bank of Montreal plans to price 0% contingent risk absolute return notes due July 31, 2019 linked to the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above the initial level, the payout at maturity will be par plus the fund gain.
If the fund falls, but the fund level has never fallen below the barrier level during the life of the notes, the payout will be par plus the absolute value of the return. The barrier level is expected to fall between 73.5% and 77.5% of the initial fund level and will be set at pricing.
Otherwise, investors will lose 1% for every 1% decline of the fund from its initial level.
BMO Capital Markets Corp. is the agent.
The notes will price on July 26 and settle on July 31.
The Cusip is 06367TZN3.
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