By William Gullotti
Buffalo, N.Y., April 28 – Bank of Montreal priced $2 million of 0% digital return buffer notes due April 30, 2024 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF’s return is greater than or equal to its 80% buffer level, the payout at maturity will be par plus 10.55%.
Otherwise, investors will lose 1% for each 1% that the ETF declines beyond 20%.
BMO Capital Markets is the agent.
Issuer: | Bank of Montreal
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Issue: | Digital return buffer notes
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Underlying fund: | Energy Select Sector SPDR Fund
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Amount: | $2 million
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Maturity: | April 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the ETF finishes at or above buffer level, par plus 10.55%; otherwise, lose 1% for each 1% decline beyond 20%
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Initial level: | $84.98
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Buffer level: | $67.98; 80% of initial level
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Pricing date: | April 21
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Settlement date: | April 26
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Agent: | BMO Capital Markets
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Fees: | 0.65%
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Cusip: | 06374VTC0
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