BMO plans buffered bullish enhanced return notes on biotech ETF

By Sarah Lizee

Olympia, Wash., Feb. 26 – Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Sept. 7, 2021 linked to the SPDR S&P Biotech ETF, according to an FWP filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any fund gain, subject to a maximum return of 13.7%.

Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% decline beyond the buffer. The exact buffer will be set at pricing.

BMO Capital Markets Corp. is the agent.

The notes will price on Feb. 28.

The Cusip number is 06367WWQ2.

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