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Bank of Montreal plans buffered bullish digital notes tied to S&P 500
By Toni Weeks
San Diego, May 3 - Bank of Montreal plans to price 0% buffered bullish digital return notes due May 16, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus a digital coupon of 10.5%. Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 06366QJZ1) are expected to price May 13 and settle May 18.
BMO Capital Markets Corp. is the agent.
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