BMO plans contingent risk absolute return notes on Gold Miners

By Devika Patel

Knoxville, Tenn., March 21 – Bank of Montreal plans to price 0% contingent risk absolute return notes with digital upside due March 29, 2019 linked to the Vaneck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund closes above its initial level, the payout at maturity will be par plus the digital return of 16%.

If the fund falls but not below the barrier level, 60% of its initial level, the payout at maturity will be par plus the absolute value of the return, subject to a maximum payout of $1,400 per $1,000 of notes.

Otherwise, investors will lose 1% for each 1% decline.

BMO Capital Markets Corp. is the agent.

The notes (Cusip: 06367TTS9) will price on March 28 and settle on March 31.

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