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Bank of Montreal plans contingent risk absolute return notes on Dow ETF
By Marisa Wong
Morgantown, W.Va., Dec. 24 – Bank of Montreal plans to price 0% contingent risk absolute return notes due Dec. 31, 2021 linked to the SPDR Dow Jones Industrial Average 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 105% of the fund gain.
If the fund falls but finishes at or above the barrier level, 70% of the initial level, the payout will be par plus the absolute value of the return, up to a maximum return of $1,300 per $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
The notes will price on Dec. 28 and settle on Dec. 31.
The Cusip number is 06366R5P6.
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