Published on 4/1/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $880,000 enhanced return notes linked to iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., April 1 – Bank of Montreal priced $880,000 of 0% buffered bullish enhanced return notes due March 29, 2018 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 150% of the ETF return, subject to a maximum redemption amount of $1,140 per $1,000 principal amount of notes. Investors will receive par if the ETF declines by 17.5% or less and will lose 1% for every 1% that it declines beyond 17.5%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish enhanced return notes
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Underlying ETF: | iShares MSCI EAFE
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Amount: | $880,000
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Maturity: | March 29, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus 150% of ETF return, subject to 14% maximum return; par if ETF declines by 17.5% or less; 1% loss for every 1% that ETF declines beyond 17.5%
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Initial share price: | $56.69
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06367TCH1
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