Published on 9/22/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $577,000 buffer enhanced return notes linked to MSCI EAFE
By Kiku Steinfeld
Chicago, Sept. 22 – Bank of Montreal priced $577,000 of 0% buffer enhanced return notes due Sept. 15, 2025 linked to the performance of the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% of any index gain.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% that the level of the index decreases by more than 10%.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying index: | MSCI EAFE index
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Amount: | $577,000
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Maturity: | Sept. 15, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any gain of the index; par if the index falls by up to 10%; otherwise, 1% loss for each 1% of index decline below 10%
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Initial index level: | 2,062.92
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Buffer level: | 1,856.63; 90% of initial level
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Pricing date: | March 9, 2023
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Settlement date: | March 14, 2023
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 0.25%
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Cusip: | 06374VPB6
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