BMO plans contingent 10% cash-settled autocalls on oil, gold funds

New York, June 4 – Bank of Montreal plans to price 10% autocallable cash-settled notes with conditional interest payments due June 30, 2021 linked to the lesser performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners ETF, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly at an annual rate of 10% if each underlying component closes at or above its 68.5% coupon barrier level on the observation date for that quarter.

The notes will be called at par if each component closes at or above its initial level on any review date beginning on Dec. 26, 2018.

The payout at maturity will be par unless either fund finishes below its 68.55% trigger level, in which case investors be fully exposed to any losses of the worse performing fund.

BMO Capital Markets Corp. is the agent.

The notes will price on June 26 and settle on June 29.

The Cusip is 06367T6C9.

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