Published on 11/15/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $1.53 million buffered bullish notes tied to iShares MSCI EAFE
By Toni Weeks
San Diego, Nov. 15 - Bank of Montreal priced $1.53 million of 0% buffered bullish enhanced return notes due May 16, 2013 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, up to a maximum return of 23.3%.
Investors will receive par if the fund falls by up to 15% and will be exposed to any decline beyond 15%.
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 fund: | iShares MSCI EAFE index fund
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Amount: | $1,528,000
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Maturity: | May 16, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any fund gain, up to a maximum return of 23.3%; par if fund drops by up to 15%; exposure to losses beyond 15%
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Initial price: | $51.80
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Buffer level: | $44.03, 85% of initial price
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Pricing date: | Nov. 11
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Settlement date: | Nov. 16
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06366QC88
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