Published on 3/14/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $7,000 market-linked notes on stock basket
By Kiku Steinfeld
Chicago, March 14 – Bank of Montreal priced $7,000 of 0% market-linked notes due July 6, 2026 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Analog Devices, Inc., Amphenol Corp., Edwards Lifesciences Corp., Freeport-McMoRan Inc., Intuitive Surgical, Inc., KLA Corp., ServiceNow, Inc., Prologis, Inc., Schlumberger NV and Synopsys, Inc.
The payout at maturity will be par plus 125% of any gain of the basket, subject to a maximum return of par plus 30%.
If the basket falls, investors will receive par.
BMO Capital Markets Corp. is the underwriter.
Issuer: | Bank of Montreal
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Issue: | Market-linked notes
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Underlying components: | Analog Devices, Inc., Amphenol Corp., Edwards Lifesciences Corp., Freeport-McMoRan Inc., Intuitive Surgical, Inc., KLA Corp., ServiceNow, Inc., Prologis, Inc., Schlumberger NV and Synopsys, Inc.; equal weights
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Amount: | $7,000
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Maturity: | July 6, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any basket gain, capped at par plus 30%, par if basket falls
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Initial basket level: | $189.48 for Analog, $83.45 for Amphenol, $92.02 for Edwards, $39.35 for Freeport, $338.49 for Intuitive, $477.23 for KLA, $548.08 for ServiceNow, $121.50 for Prologis, $48.47 for Schlumberger, $427.90 for Synopsys
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Pricing date: | June 29, 2023
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Settlement date: | July 5, 2023
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 0.25%
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Cusip: | 06374VW85
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