Published on 8/10/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $57,000 buffered bullish enhanced return notes on S&P
By Sarah Lizee
Olympia, Wash., Aug. 10 – Bank of Montreal priced $57,000 of 0% buffered bullish enhanced return notes due Jan. 31, 2022 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, capped at par plus 10%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish return notes
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Underlying index: | S&P 500 index
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Amount: | $57,000
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Maturity: | Jan. 31, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, capped at par plus 10%; par if index falls up to buffer; 1% loss for every 1% decline beyond buffer
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Initial price: | 3,218.44
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Buffer price: | 2,896.6, 90% of initial price
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Pricing date: | July 28
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Settlement date: | July 31
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 1.5%
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Cusip: | 06367WV91
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