Published on 5/17/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $15,000 buffered digital return notes on iShares Silver Trust
By Toni Weeks
San Diego, May 17 - Bank of Montreal priced $15,000 of 0% buffered bullish digital return notes due Nov. 16, 2012 linked to the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 20%, or $1,200.00 per $1,000.00 principal amount. Investors will receive par if the fund falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish digital return notes
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Underlying fund: | iShares Silver Trust
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Amount: | $15,000
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Maturity: | Nov. 16, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 20% if the fund return is positive; par for decline in fund of up to 10%, with 1% loss for every 1% decline beyond 10%
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Initial level: | $34.40
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Buffer level: | $30.96, 90% of initial level
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.25%
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Cusip: | 06366QKC0
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