Published on 2/2/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $1.91 million buffered bullish notes linked to iShares MSCI EM
By Toni Weeks
San Diego, Feb. 2 - Bank of Montreal priced $1.91 million of 0% buffered bullish enhanced return notes due Aug. 5, 2013 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, up to a maximum return of 31%.
Investors will receive par if the fund falls by up to 10% and will be exposed to any decline beyond 10%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish enhanced return notes
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Underlying fund: | iShares MSCI Emerging Markets index fund
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Amount: | $1,909,000
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Maturity: | Aug. 5, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any fund gain, with maximum payment of $1,310 per $1,000 of notes; par if fund drops by up to 10%; exposure to losses beyond 10%
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Initial price: | $42.13
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Buffer level: | $37.92, 90% of initial price
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Pricing date: | Jan. 31
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Settlement date: | Feb. 3
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06366QZ59
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