Published on 1/8/2020 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.37 million bullish booster notes with barrier on S&P, Stoxx
By Sarah Lizee
Olympia, Wash., Jan. 8 – Bank of Montreal priced $1.37 million of 0% bullish booster notes with barrier due Dec. 30, 2022 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index increases above the booster percentage, which is 141% of the initial level, the payout at maturity will be par plus the return of the lesser performing index.
If the lesser performing index increases but by less than the booster percentage, the payout will be par plus 41%.
If the lesser performing index is zero or negative but not by more than 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
|
Issue: | Bullish booster notes with barrier
|
Underlying indexes: | S&P 500, Euro Stoxx 50
|
Amount: | $1,369,000
|
Maturity: | Dec. 30, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the lesser performing index increases above the booster percentage, 141% of the initial level, par plus the return of the lesser performing index; if the lesser performing index increases but by less than the booster percentage, par plus 41%; if the lesser performing index is zero or negative but not by more than 70% of the initial level, par; otherwise, 1% loss for each 1% decline of the lesser performing index from its initial level
|
Initial index levels: | 3,221.29 for S&P, 3,748.47 for Stoxx
|
Barrier levels: | 2,254.90 for S&P, 2,623.93 for Stoxx, 70% of initial levels
|
Pricing date: | Dec. 30
|
Settlement date: | Jan. 3
|
Agent: | BMO Capital Markets Corp.
|
Fees: | 1.2%
|
Cusip: | 06367WSY0
|
|
© 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.