Published on 7/14/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $518,000 buffered bullish enhanced notes on iShares MSCI EM
By Susanna Moon
Chicago, July 14 - Bank of Montreal priced $518,000 of 0% buffered bullish enhanced return notes due July 15, 2013 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 21%.
Investors will receive par if the shares fall by 15% or less and will be exposed to any decline beyond 15%.
BMO Capital Markets Corp. is the underwriter.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish enhanced return notes
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Underlying fund: | iShares MSCI Emerging Markets index fund
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Amount: | $518,000
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Maturity: | July 15, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, capped at 21%; exposure to losses beyond 15%
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Initial level: | $46.12
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Buffer level: | $39.20, or 85% of initial level
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Pricing date: | July 12
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Settlement date: | July 15
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Underwriter: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06366QQA8
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