Published on 11/20/2019 in the Prospect News Structured Products Daily.
New Issue: BMO sells $788,000 buffered bullish enhanced return notes on iShares EM
By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Bank of Montreal priced $788,000 of 0% buffered bullish enhanced return notes due May 21, 2021 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any fund gain, subject to a maximum return of 15.9%.
Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish return notes
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Underlying fund: | iShares MSCI Emerging Markets ETF
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Amount: | $788,000
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Maturity: | May 21, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any fund gain, capped at 15.9%; par if fund falls up to 15%; 1% loss for every 1% decline beyond 15%
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Initial price: | $43.06
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Buffer price: | $36.60, 85% of initial price
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Pricing date: | Nov. 18
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Settlement date: | Nov. 21
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Underwriter: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06367WRU9
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