Published on 4/17/2020 in the Prospect News Structured Products Daily.
New Issue: BMO prices $2.19 million barrier enhanced return notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 17 – Bank of Montreal price $2.19 million of 0% barrier enhanced return notes due April 20, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 132.5% of any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 30% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 70% barrier level.
BMO Capital Markets Corp. is the underwriter.
Issuer: | Bank of Montreal
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Issue: | Barrier enhanced return notes
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Basket components: | S&P 500 and Russell 2000
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Amount: | $2,189,000
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Maturity: | April 20, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 132.5% of any gain of lesser-performing index; par if lesser-performing index falls by up to 30%; full exposure to loss if lesser-performing falls by more than 30%
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Initial index levels: | 2,783.36 for S&P and 1,183.977 for Russell
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Barrier levels: | 1,948.35 for S&P and 8228.784 for Russell, 70% of initial levels
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Pricing date: | April 15
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Settlement date: | April 20
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 3.2%
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Cusip: | 06367WZC0
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