By Wendy Van Sickle
Columbus, Ohio, April 27 – Bank of Montreal priced $451,000 of 0% contingent risk absolute return notes due April 30, 2019 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 ETFx ever closes below its 73% barrier level on any day during the life of the notes.
If the ETF finishes above its initial level, the payout at maturity will be par plus the gain.
If the ETF falls but never closes below its 73% barrier level, the payout will be par plus the absolute value of the return.
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 ETF: | iShares MSCI EAFE
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| Amount: | $451,000
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| Maturity: | April 30, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus return; if ETF never closes below its 73% barrier, par plus absolute return; if ETF falls by more than 27%, full exposure to any losses
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| Initial level: | $63.99
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| Barrier level: | $46,71, 73% of initial level
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 0%
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| Cusip: | 06367TVT4
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