Published on 4/29/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $22,000 upside booster notes linked to Energy Select fund
New York, April 29 – Bank of Montreal priced $22,000 of 0% upside booster notes with barrier due April 30, 2019 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is greater than 25%, the payout at maturity will be par plus the return.
If the return is between negative 10% and positive 25%, inclusive, the payout will be par plus 25%.
If the return is less than negative 10%, investors will have one-to-one exposure to the fund’s decline from its initial level.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Upside booster notes with barrier
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Underlying fund: Energy Select Sector SPDR fund
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Amount: | $22,000
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Maturity: | April 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return is greater than 25%, par plus fund return; if return is between negative 10% and positive 25%, inclusive, par plus 25%; if return is less than negative 10%, one-to-one exposure to fund’s decline from initial level
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Initial level: | $67.32
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Barrier level: | $60.59, 90% of initial share price
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Pricing date: | April 26
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Settlement date: | April 29
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Agent: | BMO Capital Markets Corp.
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Fees: | 1.2%
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Cusip: | 06367TDD9
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