BMO plans 10.26% cash-settled autocallables tied to SPDR S&P Oil

By Susanna Moon

Chicago, Aug. 15 – Bank of Montreal plans to price 10.26% autocallable cash-settled notes with fixed interest payments 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.

Interest is payable monthly.

The notes will be called at par if the fund closes above its 110% call level on any monthly review date.

The payout at maturity will be par unless the fund finishes below its initial level and ever closes below its 75% trigger level during the life of the notes, in which case investors be fully exposed to any losses.

BMO Capital Markets Corp. is the agent.

The notes will price on Aug. 23 and settle on Aug. 28.

The Cusip number is 06367TA83.

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