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BMO plans 15% autocallable cash-settled notes on oil and gas ETF
By Wendy Van Sickle
Columbus, Ohio, March 2 – Bank of Montreal plans to price 15% autocallable cash-settled notes with fixed interest payments due on March 31, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the fund finishes above the 110% call level on any of six monthly call dates from October 2016 through March 2017, the notes will be called at par plus the coupon.
The payout at maturity will be par plus the coupon due unless the fund finishes below the 60% trigger level, in which case investors will be fully exposed to the loss.
BMO Capital Markets Corp. is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 06367TBB5.
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