New York, Nov. 25 – Bank of Montreal priced $245,000 of 0% contingent risk absolute return notes due Nov. 30, 2017 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event occurs if the fund closes below the barrier level, 71.5% of the initial level, on any day during the life of the notes.
If the fund finishes above its initial level, the payout at maturity will be par plus the return.
If the fund return is zero or negative and a barrier event has not occurred, the payout will be par plus the absolute value of the fund return, up to a maximum return of 28.5%.
If the fund 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 ETF: | iShares MSCI EAFE ETF
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Amount: | $245,000
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Maturity: | Nov. 30, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus return; if fund return is zero or negative but barrier event has not occurred, par plus absolute value of return, up to maximum return of 28.5%; if fund return is zero or negative but barrier event has occurred, full exposure to any losses
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Barrier event: | Occurs if the fund closes below the barrier level during the life of the notes
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Initial level: | $60.55
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Barrier level: | 71.5% 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: | None
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Cusip: | 06366R4T9
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