By Sarah Lizee
Olympia, Wash., May 1 – Bank of Montreal priced $554,000 of 0% contingent risk absolute return notes due April 30, 2021 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the fund closes below 71% of its initial level on any trading day during the life of the notes.
If the fund closes above its initial level, the payout at maturity will be par plus the return.
If the fund is flat or falls but a barrier event has never occurred, the payout will be par plus the absolute value of the fund return.
If the fund is flat or falls and a barrier event has occurred, the payout will be par plus the return of the fund with full exposure to the decline.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying fund: | iShares MSCI EAFE ETF
|
| Amount: | $554,000
|
| Maturity: | April 30, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the fund closes above its initial level, par plus the return; if the fund is flat or falls but has never closed below barrier level, par plus the absolute value of the fund return; if the fund is flat or falls and has ever closed below barrier level, full exposure to the decline
|
| Initial price: | $66.18
|
| Barrier level: | $46.99, 71% of initial price
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06367WKH5
|
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