By Angela McDaniels
Tacoma, Wash., Aug. 29 – Bank of Montreal priced $680,000 of 0% contingent risk absolute return notes due Aug. 31, 2020 linked to the SPDR Dow Jones Industrial Average exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 105% of the ETF return.
If the ETF return is less than or equal to zero but not less than negative 30%, the payout will be par plus the absolute value of the ETF return.
If the ETF return is less than negative 30%, investors will be fully exposed to the ETF's decline.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying ETF: | SPDR Dow Jones Industrial Average
|
| Amount: | $680,000
|
| Maturity: | Aug. 31, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus 105% of ETF return; if ETF return is less than or equal to zero but final share price is not less than barrier level, par plus absolute value of ETF return; if final share price is less than barrier level, full exposure to ETF's decline
|
| Initial share price: | $171.01
|
| Barrier level: | $119.71, 70% of initial share price
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 29
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 3.55%
|
| Cusip: | 06366RVP7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
