Published on 6/21/2020 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.31 million barrier enhanced return notes linked to S&P, Russell
By Kiku Steinfeld
Chicago, June 22 – Bank of Montreal price $1.31 million of 0% barrier enhanced return notes due June 20, 2022 linked to the lesser performing of 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 145% of any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 20% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 80% barrier level.
BMO Capital Markets Corp. is the underwriter.
Issuer: | Bank of Montreal
|
Issue: | Barrier enhanced return notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $1,307,000
|
Maturity: | June 20, 2022
|
Coupon: | 0%
|
Price: | Par of $1,000
|
Payout at maturity: | Par plus 145% of any gain of lesser-performing index; par if lesser-performing index falls by up to 20%; full exposure to loss if lesser-performing falls by more than 20%
|
Initial index levels: | 3,066.59 for S&P and 1,419.607 for Russell
|
Barrier levels: | 2,453.27 for S&P and 1,135.686 for Russell, 80% of initial levels
|
Pricing date: | June 15
|
Settlement date: | June 18
|
Underwriter: | BMO Capital Markets Corp.
|
Fees: | 0.8%
|
Cusip: | 06367WP56
|
|
© 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.