Published on 7/30/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $755,000 absolute return notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., July 30 – Bank of Montreal priced $755,000 of 0% contingent risk absolute return notes due July 31, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return.
If the index return is less than or equal to zero and a barrier event has not occurred, the payout will be par plus the absolute value of the index return, subject to a maximum return of 15%. A barrier event will occur if the index closes below the barrier level, 85% of the initial level, on any day during the life of the notes.
If the index return is less than or equal to zero and a barrier event has occurred, investors will be fully exposed to the index's decline.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $755,000
|
| Maturity: | July 31, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus index return; if index return is less than or equal to zero and barrier event has not occurred, par plus absolute value of index return, subject to maximum return of 15%; if index return is less than or equal to zero and barrier event has occurred, full exposure to index's decline
|
| Barrier event: | If index closes below barrier level on any day during life of notes
|
| Initial level: | 3,554.11
|
| Barrier level: | 3,020.99, 85% of initial level
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 2.25%
|
| Cusip: | 06366RS22
|
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