Published on 6/7/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $35,000 upside booster notes tied to Energy Select fund
By Tali Rackner
Norfolk, Va., June 7 – Bank of Montreal priced $35,000 of 0% upside booster notes with barrier due May 31, 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 24%, the payout at maturity will be par plus the return.
If the return is between negative 10% and positive 24%, inclusive, the payout will be par plus 24%.
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
|
Issue: | Upside booster notes with barrier
|
Underlying fund: | Energy Select Sector SPDR fund
|
Amount: | $35,000
|
Maturity: | May 31, 2019
|
Coupon: | 0%
|
Price: | Par of $1,000
|
Payout at maturity: | If return is greater than 24%, par plus fund return; if return is between negative 10% and positive 24%, inclusive, par plus 24%; if return is less than negative 10%, one-to-one exposure to fund’s decline from initial level
|
Initial level: | $67.09
|
Barrier level: | $60.38, 90% of initial share price
|
Pricing date: | May 26
|
Settlement date: | May 31
|
Agent: | BMO Capital Markets Corp.
|
Fees: | 1.2%
|
Cusip: | 06367TEK2
|
|
|
© 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.