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Bank of Montreal to price bullish contingent risk digital return notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., July 1 - Bank of Montreal plans to price 0% bullish contingent risk digital return notes due Jan. 17, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial level, the payout at maturity will be par plus the digital return, which is expected to be 14.25% to 16.25% and will be set at pricing.
If the final index level is less than or equal to the initial level and the index has declined below the barrier - 90% of the initial level - during the life of the notes, the payout at maturity will be par plus the index return. Otherwise, the payout will be par.
The notes (Cusip: 06366QQG5) are expected to price July 14 and settle July 19.
BMO Capital Markets Corp. is the agent.
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