By Angela McDaniels
Tacoma, Wash., Feb. 27 – Bank of Montreal priced $100,000 of 0% contingent risk absolute return notes due Feb. 26, 2021 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF’s return is positive, the payout at maturity will be par plus 125% of the ETF's return.
If the ETF's return is less than or equal to zero but not less than negative 30%, the payout will be par plus the absolute value of the ETF's return.
If the ETF's return is less than negative 30%, investors will be fully exposed to the ETF's decline.
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 ETF: | iShares MSCI EAFE
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Amount: | $100,000
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Maturity: | Feb. 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF’s return is positive, par plus 125% of ETF's return; if ETF's return is less than or equal to zero but not less than negative 30%, par plus absolute value of ETF's return; if ETF's return is less than negative 30%, full exposure to ETF's decline
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Initial share price: | $65.25
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Barrier level: | $45.86, 70% of initial share price
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Pricing date: | Feb. 25
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Settlement date: | Feb. 27
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.25%
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Cusip: | 06366RZU2
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