By William Gullotti
Buffalo, N.Y., April 8 – Bank of Montreal priced $1.24 million of 0% contingent risk absolute return buffer notes due March 27, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the index gain, subject to a maximum return of par plus 23.8%.
If the index declines by no more than 15%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline beyond 15%.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return buffer notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.24 million
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| Maturity: | March 27, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at par plus 23.8%; if index declines but finishes at or above the 85% buffer, par plus absolute value of the return; otherwise, 1% loss per 1% decline beyond 15%
|
| Initial level: | 5,234.18
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| Buffer level: | 4,449.05, 85% of initial level
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| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.5%
|
| Cusip: | 06376A6E5
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