Published on 7/13/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.28 million bearish notes linked to Nasdaq-100
By Wendy Van Sickle
Columbus, Ohio, July 13 – Bank of Montreal priced $1.28 million of 0% bearish notes due July 18, 2024 based on the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes at or above its initial level, investors will lose 1% for every 1% gain in the index.
Investors will gain 3% for every 1% decline of the index, subject to a maximum payout of par plus 79%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Bearish notes
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Underlying index: | Nasdaq-100 index
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Amount: | $1.28 million
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Maturity: | July 18, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above its initial level, lose 1% for every 1% gain; otherwise, gain 3% for every 1% decline to a maximum payout of par plus 79%
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Initial level: | 15,089.45
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Pricing date: | July 6
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Settlement date: | July 11
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Agent: | BMO Capital Markets Corp.
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Fees: | 2%
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Cusip: | 06374VZT6
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