BMO plans bullish digital return notes with barrier on S&P, Russell

By Sarah Lizee

Olympia, Wash., June 7 – Bank of Montreal plans to price 0% bullish digital return notes with barrier due July 31, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filed with the Securities and Exchange Commission.

If neither index closes below 70% of its initial level during the life of the notes, the payout at maturity will be par plus the digital return of 7%.

Investors will receive par if either index closes below 70% of its initial level during the life of the notes, but both indexes finish at or above their initial level.

Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.

BMO Capital Markets Corp. is the agent.

The notes (Cusip: 06367WLY7) are expected to price on June 27.

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