New Issue: Bank of Montreal prices $6.66 million two-year buffered currency notes

By Susanna Moon

Chicago, June 28 - Bank of Montreal priced $6.66 million of 0% buffered currency-linked notes due June 28, 2013 linked to the performance of a basket of equally weighted currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying currencies are the Brazilian real, the Australian dollar, the Canadian dollar and the Norwegian krone.

The payout at maturity will be par plus double any basket gain, up to a maximum payout of $1,200 per $1,000 principal amount.

Investors will receive par if the basket falls by up to 8.25% and will lose 1% for every 1% that it declines beyond 8.25%.

BMO Capital Markets Corp. is the underwriter.

Issuer:	Bank of Montreal
Issue:	Buffered currency-linked notes
Underlying currencies:	Brazilian real, Australian dollar, Canadian dollar and Norwegian krone relative to the U.S. dollar, equally weighted
Amount:	$6,663,000
Maturity:	June 28, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any basket gain, capped at 20% maximum return; par if basket falls by up to 8.25%; 1% loss for every 1% decline beyond 8.25%
Initial exchange rates:	1.5988 for real, 0.9517 for Australian dollar, 0.98415 for Canadian dollar and 5.4959 for krone
Pricing date:	June 24
Settlement date:	June 29
Underwriter:	BMO Capital Markets Corp.
Fees:	1%
Cusip:	06366QPV3

© 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.