New Issue: BMO prices $7.22 million contingent market-linked notes on S&P

By Kiku Steinfeld

Chicago, Oct. 26 – Bank of Montreal priced $7.22 million of 0% market-linked securities due Oct. 21, 2022 – contingent fixed return and contingent downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final level of the index is flat, positive or negative by up to 15% of the initial index level, the payout will be par plus 15%.

If the index declines by more than 15%, investors will be fully exposed to the decline of the index from its initial level.

Wells Fargo Securities, LLC and BMO Capital Markets Corp. are the agents.

Issuer:	Bank of Montreal
Issue:	Market linked securities – contingent fixed return and contingent downside
Underlying index:	S&P 500 index
Amount:	$7,215,000
Maturity:	Oct. 21, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the final level of the index is flat, positive or negative by up to 15% of the initial level, par plus 15%; if the index declines by more than 15%, full exposure to any decline
Initial level:	3,483.81
Downside threshold:	2,961.2385, 85% of initial level
Pricing date:	Oct. 16
Settlement date:	Oct. 21
Agents:	Wells Fargo Securities, LLC and BMO Capital Markets Corp.
Fees:	1.88%
Cusip:	06367W6V0

© 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.