BMO plans buffered bullish digital return notes on low volatility fund

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – Bank of Montreal plans to price 0% bullish digital return notes with barrier due Nov. 30, 2017 linked to the S&P 500 Low Volatility exchange-traded fund, according to an FWP filed with the Securities and Exchange Commission.

If the fund finishes above the initial level, the payout at maturity will be par plus the digital return of 7.5%.

Investors will receive par if the fund falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

BMO Capital Markets Corp. is the agent.

The notes (Cusip: 06367TLS7) are expected to price on Oct. 26 and settle on Oct. 31.

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