Published on 5/5/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $5.83 million buffer enhanced return notes linked to S&P 500
Chicago, May 5 – Bank of Montreal priced $5.83 million of 0% buffer enhanced return notes due April 28, 2028 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% that the level of the index decreases by more than 30%.
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 index: | S&P 500 index
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Amount: | $5,830,000
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Maturity: | April 28, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain of the index; par if the index falls by up to 30%; otherwise, 1% loss for each 1% of index decline below 30%
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Initial index level: | 4,071.63
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Buffer level: | 2,850.14; 70% of initial level
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Pricing date: | April 25
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Settlement date: | April 28
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 3.3%
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Cusip: | 06374VRZ1
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