New Issue: BMO sells $773,000 buffer enhanced return notes linked to S&P 500

By Kiku Steinfeld

Chicago, April 17 – Bank of Montreal priced $773,000 of 0% buffer enhanced return notes due July 20, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 100% of any index gain capped at 38%.

Investors will receive par if the index falls by up to 40% and will lose 1% for each 1% that the level of the index decreases by more than 40%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Buffer enhanced return notes
Underlying index:	S&P 500 index
Amount:	$773,000
Maturity:	July 20, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 100% of any gain of the index capped at 38%; par if the index falls by up to 40%; otherwise, 1% loss for each 1% of index decline below 40%
Initial index level:	4,505.42
Buffer level:	2,703.25; 60% of initial level
Pricing date:	July 14, 2023
Settlement date:	July 19, 2023
Selling agent:	BMO Capital Markets Corp.
Fees:	0.85%
Cusip:	06375M2L8

© 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.