By Wendy Van Sickle
Columbus, Ohio, June 13 – Bank of Montreal priced $2.56 million of 0% buffer enhanced return notes due June 2, 2025 linked to the performance of the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 100% of any ETF gain up to 68%.
Investors will receive par if the ETF falls by up to 20% and will lose 1% for each 1% that the level of the ETF decreases by more than 20%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Buffer enhanced return notes
|
| Underlying fund: | SPDR S&P Regional Banking ETF
|
| Amount: | $2,557,000
|
| Maturity: | June 2, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 100% of any gain of the ETF up to 68%; par if the ETF falls by up to 20%; otherwise, 1% loss for each 1% of ETF decline below 20%
|
| Initial level: | $40.13
|
| Buffer level: | $32.10; 80% of initial level
|
| Strike date: | May 24
|
| Pricing date: | May 26
|
| Settlement date: | June 1
|
| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 0.25%
|
| Cusip: | 06374VW44
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