| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for Bank of Montreal > News item |
BMO plans 7.5% contingent coupon autocallables tied to gold fund
By Susanna Moon
Chicago, Aug. 8 – Bank of Montreal plans to price autocallable barrier notes with contingent coupons due July 30, 2021 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual of 7.5% if the fund closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if the fund closes at or above its 110% call level on any call valuation date after six months.
The payout at maturity will be par plus the final coupon unless the fund falls by more than 25%, in which case investors will be exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on Aug. 24 and settle on Aug. 29.
The Cusip is 06367WAP8.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.