Bank of Montreal plans contingent risk absolute return notes on Stoxx

By Wendy Van Sickle

Columbus, Ohio, May 4 – Bank of Montreal plans to price 0% contingent risk absolute return notes due May 31, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus 109% of the index gain.

If the index falls but not below the barrier level, 70% of the initial level, the payout will be par plus the absolute value of the return, up to a maximum downside redemption amount of $1,300 per $1,000 principal amount.

Otherwise, investors will be fully exposed to any losses.

BMO Capital Markets Corp. is the agent.

The notes will price on May 26 and settle on May 31.

The Cusip number is 06367TER7.

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