Published on 10/5/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $2.62 million barrier enhanced return notes linked to S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Bank of Montreal priced $2.62 million of 0% barrier enhanced return notes due Oct. 5, 2023 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 141% of any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 25% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 75% 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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Underlying indexes: | S&P 500 and Nasdaq-100
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Amount: | $2.62 million
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Maturity: | Oct. 5, 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 141% of any gain of lesser-performing index; par if lesser-performing index falls by up to 25%; full exposure to decline of lesser-performing index if it falls by more than 25%
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Initial index levels: | 11,418.06 for Nasdaq, 3,363.0 for S&P
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Barrier levels: | 8,563.55 for Nasdaq, 2,522.25 for S&P; 75% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 1.2%
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Cusip: | 06367W5L3
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