Chicago, Feb. 23 – Bank of Montreal priced $720,000 of 0% autocallable barrier enhanced return notes due Jan. 22, 2027 linked to the performance of the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 9% call premium if the ETF closes at or above its initial level on Jan. 21, 2025.
The payout at maturity will be par plus 150% of any ETF gain.
Investors will receive par if the ETF falls by up to 30% and will lose 1% for each 1% of ETF decline if it falls by more than 30%, payable as shares of the ETF.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable barrier enhanced return notes
|
| Underlying ETF: | SPDR S&P 500 ETF Trust
|
| Amount: | $720,000
|
| Maturity: | Jan. 22, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any gain of the ETF; par if the ETF falls by up to 30%; otherwise, full exposure to ETF decline from initial level, payable in shares
|
| Call: | Automatically at par plus a 9% call premium if the ETF closes at or above its initial level on Jan. 21, 2025
|
| Initial level: | 474.93
|
| Barrier level: | 332.45; 70% of initial level
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 19
|
| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 1.4%
|
| Cusip: | 06369NQS3
|
|
|
© 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.
