Published on 6/1/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $2.49 million buffer enhanced return notes linked to Dow
By William Gullotti
Buffalo, N.Y., June 1 – Bank of Montreal priced $2.49 million of 0% buffer enhanced return notes due May 31, 2028 linked to the performance of the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by up to 32% and will lose 1% for each 1% that the level of the index decreases by more than 32%.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying index: | Dow Jones industrial average
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Amount: | $2,487,000
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Maturity: | May 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain of the index; par if the index falls by up to 32%; otherwise, 1% loss for each 1% of index decline below 32%
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Initial index level: | 32,764.65
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Buffer level: | 22,279.96; 68% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 3.3%
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Cusip: | 06374VUQ7
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