BMO plans 12.6% autocallable cash-settled notes on VanEck Gold Miners

By Susanna Moon

Chicago, July 7 – Bank of Montreal plans to price 12.6% autocallable cash-settled notes with fixed interest payments due July 31, 2017 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the fund finishes above the 110% call level on any monthly call date, the notes will be called at par plus the coupon.

The payout at maturity will be par unless the fund finishes below initial level and ever closes below the 65% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.

BMO Capital Markets Corp. is the agent.

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

The Cusip number is 06367TGQ7.

© 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.