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Bank of Montreal plans buffered bullish digital notes on SPDR Dow
By Marisa Wong
Madison, Wis., Feb. 26 - Bank of Montreal plans to price 0% buffered bullish digital return notes due March 31, 2015 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 11.25%.
Investors will receive par if the index fund falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
The notes (Cusip: 06366RME2) are expected to price on March 25 and settle on March 28.
BMO Capital Markets Corp. is the agent.
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