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BMO plans contingent risk absolute return notes on SPDR Oil & Gas
New York, April 3 – Bank of Montreal plans to price 0% contingent risk absolute return notes with digital upside due Oct. 30, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 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 27.5%.
If the fund falls by up to 25%, the payout 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 April 25 and settle on April 30.
The Cusip number is 06367T4M9.
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