Published on 1/31/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $2.09 million barrier enhanced return notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Bank of Montreal priced $2.09 million of 0% barrier enhanced return notes due Jan. 31, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 139.5% of the return. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that the index declines from initial level.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Barrier enhanced return notes
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Underlying index: | S&P 500 index
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Amount: | $2,087,000
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Maturity: | Jan. 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 139.5% of the index return; par if index declines by 20% or less; otherwise, 1% loss for every 1% that the index declines from initial level
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Initial levels: | 4,060.43
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Barrier levels: | 3,248.34; 80% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 0.625%
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Cusip: | 06374VLG9
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