Published on 11/8/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.1 million leveraged upside participation market-linked notes on Stoxx
By William Gullotti
Buffalo, N.Y., Nov. 8 – Bank of Montreal priced $1.1 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 3, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of the gain in the index, capped at a maximum return of par plus 28.75%.
If the index falls by up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 15%.
Wells Fargo Securities LLC is the agent.
Issuer: | Bank of Montreal
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Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying: | Euro Stoxx 50 index
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Amount: | $1,103,000
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Maturity: | Nov. 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of the index gain, capped at par plus 28.75%; if index falls by up to 15%, par; otherwise, 1% loss for every 1% decline of index beyond 15%
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Initial level: | 4,028.32
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Buffer level: | 3,424.072; 85% of initial level
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Pricing date: | Oct. 30
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Settlement date: | Nov. 2
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.54%
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Cusip: | 06375MEV3
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