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BMO plans contingent risk absolute return notes tied to SPDR S&P Oil
By Susanna Moon
Chicago, June 6 – Bank of Montreal plans to price 0% contingent risk absolute return notes due June 29, 2018 with digital upside 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 finishes above the initial level, the payout at maturity will be par plus the digital return of 18%.
If the fund falls but finishes above the 60% barrier level, the payout will be par plus the absolute value of the return, up to a maximum return of $1,400 per $1,000 of notes.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on June 27 and settle on June 30.
The Cusip number is 06367TGA2.
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