Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $617,000 buffer enhanced return notes linked to iShares
By Kiku Steinfeld
Chicago, April 22 – Bank of Montreal priced $617,000 of 0% buffer enhanced return notes due July 31, 2024 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the final fund level is greater than the initial fund level, the payout at maturity will be par plus 200% of the fund return capped at 14.65%. If the fund declines by 15% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the fund declines beyond 15%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying fund: | iShares MSCI Emerging Markets ETF
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Amount: | $617,000
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Maturity: | July 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final fund level is greater than initial fund level, par plus 200% of fund return capped at 14.65%; if fund declines by 15% or less, par; otherwise, 1% loss for every 1% that fund declines beyond 15%
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Initial level: | $40.94
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Buffer level: | $34.80, 85% of initial level
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Pricing date: | July 27, 2023
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Settlement date: | July 31, 2023
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Agent: | BMO Capital Markets Corp.
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Fees: | 0%
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Cusip: | 06375M2Q7
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