BMO plans buffered bullish enhanced return notes on Vanguard ETF

By Sarah Lizee

Olympia, Wash., July 17 – Bank of Montreal plans to price 0% buffered bullish enhanced return notes due July 30, 2021 linked to the Vanguard Extended Market ETF, according to an FWP filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any fund gain, subject to a maximum return of 15%.

Investors will receive par if the fund falls by up to 16% to 18% and will lose 1% for every 1% decline beyond the buffer. The exact buffer will be set at pricing.

BMO Capital Markets Corp. is the agent.

The notes will price on July 26.

The Cusip number is 06367WNN9.

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