Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.41 million leveraged upside participation market-linked notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – Bank of Montreal priced $1.41 million of 0% market-linked securities – leveraged upside participation and fixed percentage buffered downside due April 3, 2028 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 145% of the gain in the index.
If the index falls by up to 40%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 40%.
Wells Fargo Securities LLC is the agent.
Issuer: | Bank of Montreal
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Issue: | Market-linked securities – leveraged upside participation and fixed percentage buffered downside
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Underlying: | Euro Stoxx 50 index
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Amount: | $1,413,000
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Maturity: | April 3, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 145% of the index gain; if index falls by up to 40%, par; otherwise, 1% loss for every 1% decline of index beyond 40%
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Initial level: | 4,161.56
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Buffer level: | 2,496.936; 60% of initial level
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Wells Fargo Securities LLC
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Fees: | 3.325%
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Cusip: | 06375M6A8
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