By Marisa Wong
Madison, Wis., Oct. 11 - Bank of Montreal priced $200,000 of 0% barrier bullish return notes due Oct. 17, 2016 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the fund closes below its 58% barrier level on any day during the life of the notes.
If the fund finishes above its initial level, the payout at maturity will be par plus the gain.
If the fund finishes at or below its initial level but a barrier event never occurs, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Barrier bullish return notes
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $200,000
|
| Maturity: | Oct. 17, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund gains, par plus return; if fund falls but never closes below barrier level, par; otherwise, full exposure to any losses
|
| Initial level: | $41.67
|
| Barrier level: | $24.17, 58% of initial level
|
| Pricing date: | Oct. 9
|
| Settlement date: | Oct. 15
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06366RRK3
|
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