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Prospect News home > News index > List of issuers A > Headlines for American International Group, Inc. (AIG) > News item |
Bank of Montreal plans 18% reverse exchangeables linked to AIG
By Susanna Moon
Chicago, Oct. 3 - Bank of Montreal plans to price 18% annualized reverse exchangeable notes due Jan. 19, 2012 linked to American International Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless AIG stock ever closes below the trigger price - 70% of the initial share price - and finishes below the initial share price, in which case the payout will be a number of shares of AIG stock equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.
BMO Capital Markets Corp. is the agent.
The notes will price on Oct. 14 and settle on Oct. 19.
The Cusip number is 06366QYA9.
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