| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Bank of Montreal to price autocallable barrier notes tied to S&P 500
By Jennifer Chiou
New York, Jan. 29 - Bank of Montreal plans to price 0% autocallable barrier notes with step-up call price due Feb. 29, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
On any annual call date, if the index level is greater than the initial level, the notes will be called. The call return will be 6.25% on Feb. 25, 2014, 12.5% on Feb. 24, 2015 and 18.75% on Feb. 24, 2016.
If the notes are not called, the payout at maturity will be par if the index falls by up to 30%. Investors will share in losses if the final level is less than the 70% trigger level.
The notes (Cusip: 06366RLQ6) are expected to price on Feb. 25 and settle on Feb. 28.
BMO Capital Markets Corp. is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.