Published on 11/30/2022 in the Prospect News Structured Products Daily.
New Issue: BMO prices $4.56 million digital return barrier notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Nov. 30 – Bank of Montreal priced $4.56 million of 0% digital return barrier notes due Dec. 28, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s return is greater than or equal to its 60% barrier level, the payout at maturity will be par plus 9.4%.
Otherwise, investors will lose 1% for every 1% that the index declines from initial level.
BMO Capital Markets is the agent.
Issuer: | Bank of Montreal
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Issue: | Digital return barrier notes
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Underlying index: | S&P 500 index
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Amount: | $4.56 million
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Maturity: | Dec. 28, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index’s return is greater than or equal to barrier level, par plus 9.4%; otherwise, 1% loss for every 1% that the index declines from initial level
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Initial level: | 4,003.58
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Principal barrier level: | 2,402.15; 60% of initial level
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Pricing date: | Nov. 22
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Settlement date: | Nov. 28
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Agent: | BMO Capital Markets
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Fees: | 0.43%
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Cusip: | 06374VDZ6
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