BMO plans contingent 10.2% cash-settled autocalls on SPDR S&P Oil

By Susanna Moon

Chicago, June 26 – Bank of Montreal plans to price 10.2% autocallable cash-settled notes with conditional interest payments due Oct. 4, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 10% if the underlying fund closes at or above its 70% coupon barrier level on the observation date for that month.

The notes will be called at par if the fund closes at or above its 110% call level on any review date beginning on Jan. 2, 2019.

The payout at maturity will be par unless the fund ever closes below its 70% 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 June 29.

The Cusip is 06367T6V7.

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