New York, Nov. 25 – Bank of Montreal priced $35,000 of 0% contingent risk absolute return notes due Nov. 29, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event occurs if the index closes below the barrier level, 75% of the initial level, on any day during the life of the notes.
If the index finishes above its initial level, the payout at maturity will be par plus the return.
If the index return is zero or negative and a barrier event has not occurred, the payout will be par plus the absolute value of the index return, up to a maximum return of 25%.
If the index return is zero or negative and a barrier event has occurred, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Contingent risk absolute return notes
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| Underlying index: | Euro Stoxx 50
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| Amount: | $35,000
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| Maturity: | Nov. 29, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is positive, par plus return; if index return is zero or negative but barrier event has not occurred, par plus absolute value of return, up to maximum return of 25%; if index return is zero or negative but barrier event has occurred, full exposure to any losses
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| Barrier event: | Occurs if the index closes below the barrier level during the life of the notes
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| Initial level: | 3,409.60
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| Barrier level: | 2,557.20, 75% of initial level
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 1.6%
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| Cusip: | 06366R3Z6
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