Published on 12/11/2021 in the Prospect News Structured Products Daily.
New Issue: BMO sells $93,000 buffer enhanced return notes linked to Gold Miners ETFs
By Kiku Steinfeld
Chicago, Dec. 13 – Bank of Montreal priced $93,000 of 0% buffer enhanced return notes due Feb. 28, 2023 linked to the performance of the VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 125% of any gain of the least performing asset, subject to a maximum return of par plus 31%.
Investors will receive par if the worst performer falls by up to 10% and will lose 1% for every 1% decline of the worst performer beyond the 10% buffer.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Buffer enhanced return notes
|
| Underliers: | VanEck Vectors Gold Miners ETF and VanEck Vectors Junior Gold Miners ETF
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| Amount: | $93,000
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| Maturity: | Feb. 28, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 125% of any gain of least performing asset, capped at 31%; par if worst performer falls by up to 10%; otherwise, 1% loss per 1% decline of worst performer beyond 10%
|
| Initial levels: | $32.50 for Gold Miners, $43.98 for Junior Gold Miners
|
| Buffer levels: | $29.25 for Gold Miners, $39.58 for Junior Gold Miners; 90% of initial levels
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 30
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| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.5%
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| Cusip: | 06368G3T2
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