Published on 4/22/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $391,000 contingent risk absolute return notes on iShares MSCI EAFE
By Kiku Steinfeld
Chicago, April 24 – Bank of Montreal priced $391,000 of 0% contingent risk absolute return notes due June 30, 2025 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes above its initial level, the payout at maturity will be par plus double the return, capped at 36.5%.
If the fund falls by up to the 75% barrier level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, 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 fund: | iShares MSCI EAFE ETF
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Amount: | $391,000
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Maturity: | June 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund gains, par plus double return, capped at 36.5%; if fund falls by up to 25%, par plus absolute return; otherwise, full exposure to any losses
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Initial level: | $65.66
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Barrier level: | $49.24, 75% of initial level
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agent: | BMO Capital Markets Corp.
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Fees: | 1%
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Cusip: | 06374VFP6
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