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BMO plans 6.3% autocallable cash-settled notes linked to iShares silver
By Susanna Moon
Chicago, July 7 – Bank of Montreal plans to price 6.3% autocallable cash-settled notes with fixed interest payments due July 31, 2017 linked to the iShares Silver Trust, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the fund finishes above the 110% call level on any monthly call date, the notes will be called at par plus the coupon.
The payout at maturity will be par unless the fund finishes below initial level and ever closes below the 77.5% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on July 26 and settle on July 29.
The Cusip number is 06367TGS3.
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