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Bank of Montreal plans buffered bullish digital notes on SPDR DJ fund
By Jennifer Chiou
New York, Jan. 28 - Bank of Montreal plans to price 0% buffered bullish digital return notes due Feb. 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 fund gains, the payout at maturity will be par plus a digital return of 14.5% to 18.5%. The exact percentage will be set at pricing.
Investors will receive par if the fund falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
The notes (Cusip: 06366RLM5) are expected to price on Feb. 25 and settle on Feb. 28.
BMO Capital Markets Corp. is the agent.
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