BMO plans contingent risk absolute return notes on Gold Miners

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – Bank of Montreal plans to price 0% contingent risk absolute return notes with digital upside due Oct. 31, 2018 linked to the VanEck Vectors Gold Miners 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 21%.

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 Oct. 26 and settle on Oct. 31.

The Cusip number is 06367TLM0.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.