BMO plans contingent coupon barrier autocallables tied to Gold Miners fund

By Susanna Moon

Chicago, Feb. 3 – Bank of Montreal plans to price autocallable barrier notes with contingent coupon due Feb. 28, 2020 linked to VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the fund closes at or above the 60% coupon barrier on the observation date for that quarter.

The notes will be called at par if the fund closes at or above its initial price on any quarterly observation date.

The payout at maturity will be par unless the fund finishes below the 60% trigger level, in which case investors will lose 1% for each 1% decline.

BMO Capital Markets Corp. is the agent.

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

The Cusip number is 06367TSE1.

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