By William Gullotti
Buffalo, N.Y., March 21 – Bank of Montreal priced $1.15 million of 0% buffer enhanced return notes due Sept. 20, 2024 linked to the stock performance of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any stock gain, subject to a maximum return of par plus 50.4%.
Investors will receive par if the stock falls by up to 20% and will lose 1% for each 1% that the level of the stock decreases by more than 20%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
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| Issue: | Buffer enhanced return notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $1.15 million
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| Maturity: | Sept. 20, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any gain of the stock, capped at par plus 50.4%; par if the stock falls by up to 20%; otherwise, 1% loss for each 1% of stock decline below 20%
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| Initial level: | $180.45
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| Buffer level: | $144.36; 80% of initial level
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Selling agent: | BMO Capital Markets Corp.
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| Fees: | 2%
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| Cusip: | 06374VQE9
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