Published on 10/18/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $740,000 digital return buffer notes linked to S&P 500
Chicago, Oct. 18 – Bank of Montreal priced $740,000 of 0% digital return buffer notes due Oct. 20, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s return is greater than or equal to its 80% buffer level, the payout at maturity will be par plus 36%.
Otherwise, investors will lose 1% for every 1% that the index declines beyond the buffer.
BMO Capital Markets is the agent.
Issuer: | Bank of Montreal
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Issue: | Digital return buffer notes
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Underlying index: | S&P 500 index
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Amount: | $740,000
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Maturity: | Oct. 20, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index’s return is greater than or equal to buffer level, par plus 36%; otherwise, 1% loss for every 1% that the index declines beyond the buffer
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Initial level: | 3,677.95
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Principal buffer level: | 2,942.36; 80% of initial level
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Pricing date: | Oct. 17, 2022
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Settlement date: | Oct. 20, 2022
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Agent: | BMO Capital Markets
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Fees: | 0.25%
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Cusip: | 06374VB70
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