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BMO plans autocallable cash-settled notes linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – Bank of Montreal plans to price 0% autocallable cash-settled notes with step-up call price due Dec. 31, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus 7% per year if the fund closes above its initial level on any annual call date.
The payout at maturity will be par plus unless the fund finishes below its 85% trigger level, in which case investors will lose 1% for each 1% decline.
BMO Capital Markets Corp. is the agent.
The notes (Cusip: 06367TPH7) will price on Dec. 22 and settle on Dec. 30.
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