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Bank of Montreal plans 11% reverse exchangeables linked to Boeing
By Susanna Moon
Chicago, Oct. 3 - Bank of Montreal plans to price 11% annualized reverse exchangeable notes due Jan. 19, 2012 linked to Boeing Co. 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 Boeing stock ever closes below the trigger price - 80% of the initial share price - and finishes below the initial share price, in which case the payout will be a number of shares of Boeing 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 06366QYE1.
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