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Bank of Montreal to price digital return notes linked to SPDR Dow
By Angela McDaniels
Tacoma, Wash., Jan. 3 - Bank of Montreal plans to price 0% buffered bullish digital return notes due Jan. 29, 2016 linked to the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's return is positive, the payout at maturity will be par plus the digital return, which is expected to be 17.25% to 21.25% and will be set at pricing. Investors will receive par if the ETF declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
The notes are expected to price Jan. 28 and settle Jan. 31.
BMO Capital Markets Corp. is the agent.
The Cusip number is 06366RKT1.
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