BMO plans contingent risk absolute return notes on oil and gas ETF

By Wendy Van Sickle

Columbus, Ohio, Sept. 9 – Bank of Montreal plans to price 0% contingent risk absolute return notes with digital upside due Sept. 28, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP 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 23.5%.

If the fund falls but finishes above the 70% barrier level, the payout will be par plus the absolute value of the return, up to a maximum return of $1,300 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 Sept. 27 and settle on Sept. 30.

The Cusip number is 06367TKP4.

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