By Kiku Steinfeld
Chicago, July 21 – Bank of Montreal priced $3.5 million of 0% market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside due July 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 110% of any gain in the index up to a maximum of par plus 5%.
If the index falls but not beyond 12.5%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 12.5%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside
|
| Underlying index: | S&P 500
|
| Amount: | $3.5 million
|
| Maturity: | July 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 110% of any gain index up to a maximum of par plus 5%; par if index falls by up to 12.5%; otherwise, 1% loss for every 1% decline beyond 12.5%
|
| Initial level: | 4,204.11
|
| Barrier level: | 3,678.59625, 87.5% of initial level
|
| Pricing date: | May 28
|
| Settlement date: | June 3
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.37%
|
| Cusip: | 06368ENC2
|
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