By Angela McDaniels
Tacoma, Wash., Aug. 29 – Bank of Montreal priced $1.03 million of 0% contingent risk absolute return notes due Aug. 31, 2016 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus the ETF return.
If the ETF return is less than or equal to zero but not less than negative 24%, the payout will be par plus the absolute value of the ETF return.
If the ETF return is less than negative 24%, investors will be fully exposed to the ETF's decline.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying ETF: | iShares MSCI EAFE
|
| Amount: | $1,029,000
|
| Maturity: | Aug. 31, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus ETF return; if ETF return is less than or equal to zero but final share price is not less than barrier level, par plus absolute value of ETF return; if final share price is less than barrier level, full exposure to ETF's decline
|
| Initial share price: | $67.04
|
| Barrier level: | $50.95, 76% of initial share price
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 29
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06366RVY8
|
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