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Bank of Montreal plans buffered digital return notes on index, fund
By Toni Weeks
San Diego, Aug. 27 - Bank of Montreal plans to price 0% buffered bullish digital return notes due Sept. 30, 2014 linked to a basket consisting of equal weights of the S&P 500 index and the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is positive, the payout at maturity will be par plus the digital return, which is expected to be 9% to 12% and will be determined at pricing.
Investors will receive par if the basket falls by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
The notes (Cusip: 06366RGY5) are expected to price Sept. 25 and settle Sept. 28.
BMO Capital Markets Corp. is the agent.
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