Published on 8/26/2022 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.87 million buffer enhanced return notes linked to Invesco QQQ
By William Gullotti
Buffalo, N.Y., Aug. 26 – Bank of Montreal priced $1.87 million of 0% buffer enhanced return notes due Aug. 28, 2025 linked to the performance of the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 126% of any ETF gain, subject to a maximum return of par plus 40%.
Investors will receive par if the ETF falls by up to 20% and will lose 1% for each 1% that the level of the ETF decreases by more than 20%.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
|
Issue: | Buffer enhanced return notes
|
Underlying fund: | Invesco QQQ Trust, Series 1
|
Amount: | $1,867,000
|
Maturity: | Aug. 28, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 126% of any gain of the ETF, capped at par plus 40%; par if the ETF falls by up to 20%; otherwise, 1% loss for each 1% of ETF decline below 20%
|
Initial level: | $314.10
|
Buffer level: | $251.28; 80% of initial level
|
Pricing date: | Aug. 23
|
Settlement date: | Aug. 26
|
Selling agent: | BMO Capital Markets Corp.
|
Fees: | 2%
|
Cusip: | 06374V2U9
|
|
© 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.