Published on 11/20/2017 in the Prospect News Structured Products Daily.
New Issue: BMO sells $4.21 million buffered bullish notes on Vanguard REIT ETF
By Marisa Wong
Morgantown, W.Va., Nov. 20 – Bank of Montreal priced $4.21 million of 0% buffered bullish enhanced return notes due Dec. 17, 2018 linked to the Vanguard REIT exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any ETF gain, up to a maximum redemption amount of $1,132 per $1,000 principal amount.
Investors will receive par if the ETF falls by up to 10% and will lose 1.1111% for each 1% decline beyond the buffer.
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 Emerging Markets ETF
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Amount: | $4,207,000
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Maturity: | Dec. 17, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any ETF gain, capped at 13.2%; par if ETF falls by up to 10%; 1.1111% loss for each 1% decline beyond 10%
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Initial level: | $85.18
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Buffer level: | $76.66, 90% of initial level
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Pricing date: | Nov. 14
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Settlement date: | Nov. 17
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.25%
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Cusip: | 06367TQ45
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