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Bank of Montreal plans buffered bullish enhanced notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 19 – Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Nov. 30, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, up to a maximum return of 12% to 14%.
Investors will receive par if the index falls by up to 5% and will lose 1% for each 1% decline beyond 5%.
BMO Capital Markets Corp. is the agent.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 06366RX42.
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