Published on 9/19/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $600,000 reverse exchangeable notes linked to Market Vectors Junior Gold Miners
New York, Sept. 19 - Bank of Montreal priced $600,000 of 9.29% annualized reverse exchangeable notes due March 20, 2013 linked to the Market Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Market Vectors shares close below the trigger level, 70% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
|
Issue: | Reverse exchangeable notes
|
Underlying ETF: | Market Vectors Junior Gold Miners ETF (Symbol: GDXJ)
|
Amount: | $600,000
|
Maturity: | March 20, 2013
|
Coupon: | 9.29% annualized, payable monthly
|
Price: | Par
|
Payout at maturity: | If Market Vectors shares ever close below trigger price and finish below initial share price, a number of Market Vectors shares equal to $1,000 divided by the initial share price; otherwise, par
|
Initial share price: | $24.36
|
Trigger price: | $17.05, 70% of initial price
|
Pricing date: | Sept. 17
|
Settlement date: | Sept. 20
|
Underwriters: | BMO Capital Markets Corp.
|
Fees: | 2%
|
Cusip: | 06366RHR9
|
© 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.