Published on 8/20/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $896,000 contingent risk absolute return notes on EAFE ETF
By Kiku Steinfeld
Chicago, Aug. 21 – Bank of Montreal priced $896,000 of 0% contingent risk absolute return notes due Sept. 2, 2025 linked to the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes above the initial level, the payout at maturity will be par plus 200% of the ETF gain, subject to a maximum return of par plus 29.7%.
If the ETF declines by no more than 25%, the payout will be par plus the absolute value of the ETF return.
Otherwise, investors will lose 1% for each 1% decline from initial level.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying fund: | iShares MSCI EAFE ETF
|
| Amount: | $896,000
|
| Maturity: | Sept. 2, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any ETF gain, capped at par plus 29.7%; if ETF declines but finishes at or above the 75% barrier, par plus absolute value of the return; otherwise, 1% loss per 1% decline from initial level
|
| Initial level: | $69.04
|
| Barrier level: | $51.78, 75% of initial level
|
| Pricing date: | Feb. 24, 2023
|
| Settlement date: | March 1, 2023
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 1%
|
| Cusip: | 06374VMK9
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
