Bank of Montreal plans buffered bullish notes on SPDR S&P oil fund

By Jennifer Chiou

New York, Feb. 3 – Bank of Montreal plans to price 0% buffered bullish enhanced return notes due Feb. 28, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus 300% of the return, capped at 31.8%.

If the fund return is at least negative 15%, the payout will be par. If the fund return is less than negative 15%, investors will lose 1% for every 1% decline beyond the 15% buffer.

The notes (Cusip: 06366RZW8) will price on Feb. 25 and settle on Feb. 27.

BMO Capital Markets Corp. is the agent.

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