Published on 11/22/2013 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $1.61 million buffered bullish notes on iShares MSCI EAFE
By Susanna Moon
Chicago, Nov. 22 - Bank of Montreal priced $1.61 million of 0% buffered bullish return notes due Nov. 25, 2015 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the fund, up to a maximum return of 20.65%.
Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish return notes
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Underlying fund: | iShares MSCI EAFE index fund
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Amount: | $1,605,000
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Maturity: | Nov. 25, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any fund gain, up to maximum return of 20.65%; par if shares fall by up to 10%; 1% loss for every 1% drop beyond 10%
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Initial share price: | $65.55
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Buffer level: | $59.00, 90% of initial level
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Pricing date: | Nov. 20
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Settlement date: | Nov. 25
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.25%
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Cusip: | 06366RSD8
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