Bank of Montreal plans buffered bullish notes linked to financial ETF

By Angela McDaniels

Tacoma, Wash., July 2 - Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Jan. 31, 2014 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any increase in the exchange-traded fund's share price, subject to a maximum payout of $1,165 to $1,195 for each $1,000 principal amount of notes. The exact cap will be set at pricing. Investors will receive par if the share price falls by 10% or less and will lose 1% for each 1% that it declines beyond 10%.

The notes are expected to price July 26 and settle July 31.

BMO Capital Markets Corp. is the agent.

The Cusip number is 06366RFV2.

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