Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: BMO sells $266,000 of contingent risk absolute return notes on iShares MSCI EAFE
By Devika Patel
Knoxville, Tenn., July 10 – Bank of Montreal priced $266,000 of 0% contingent risk absolute return notes due June 28, 2019 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund’s return is positive, the payout at maturity will be par plus the fund’s return.
If the fund’s return is negative and the fund hasn't closed below 75% of its initial level during the life of the notes, the payout will be par plus the absolute value of the fund’s return, subject to a cap of $1,250.
Otherwise, investors will lose 1% for each 1% 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: | $266,000
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Maturity: | June 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund’s return is positive, par plus fund’s return; if fund’s return is negative and fund hasn't closed below barrier level during life of notes, par plus absolute value of fund’s return, up to $1,250; otherwise, 1% loss for each 1% decline
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Initial share price: | $65.24
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Barrier level: | $48.93, 75% of initial share price
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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: | 06367TYK0
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