Published on 7/1/2016 in the Prospect News Structured Products Daily.
New Issue: BMO sells $2.96 million contingent risk absolute return notes on MSCI EAFE fund
By Susanna Moon
Chicago, July 1 – Bank of Montreal priced $2.96 million of 0% contingent risk absolute return notes due June 29, 2018 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above the initial level, the payout at maturity will be par plus the gain.
If the fund falls but never closes below the barrier level, 67% of the initial level, on any day during the life of the notes, the payout will be par plus the absolute value of the return, up to a maximum return of 33%.
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: | $2,956,000
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Maturity: | June 29, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If fund gains, par plus the return; if fund falls but never dips below barrier, par plus absolute return, capped at 33%; otherwise, full exposure to any losses
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Initial level: | $52.64
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Barrier level: | 67% of initial level
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06367TGE4
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