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BMO plans bullish digital return notes linked to S&P 500, Russell
Chicago, Feb. 4 – Bank of Montreal plans to price 0% bullish digital return notes with barrier due March 31, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
A barrier event will occur if either index closes below its barrier level, 70% of its initial level, on any trading day during the life of the notes.
If a barrier event does not occur, the payout at maturity will be par plus 9% of par.
If a barrier event occurs and the final level of the lesser-performing index is greater than or equal to its initial level, the payout will be par.
If a barrier event occurs and the return of either index is negative, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
BMO Capital Markets Corp. is the agent.
The notes will price Feb. 25 and settle Feb. 28.
The Cusip number is 06367WHP1.
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