By Angela McDaniels
Tacoma, Wash., June 17 - Bank of Montreal priced $1.19 million of 0% contingent risk absolute return notes due June 18, 2015 linked to the SPDR S&P MidCap 400 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund's return is positive, the payout at maturity will be par plus the fund's return.
If the fund's return is less than or equal to zero and a barrier event has not occurred, the payout will be par plus the absolute value of the fund's return. A barrier event occurs if the fund's closing level is less than the barrier level, 75% of the initial level, on any day during the life of the notes.
If the fund's return is less than or equal to zero and a barrier event has occurred, investors will be fully exposed to the fund's decline, if any, from its initial level.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying ETF: | SPDR S&P MidCap 400 ETF trust
|
| Amount: | $1.19 million
|
| Maturity: | June 18, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund's return is positive, par plus fund's return; if fund's return is less than or equal to zero and barrier event has not occurred; par plus absolute value of fund's return; if fund's return is less than or equal to zero and barrier event has occurred, full exposure to fund's decline
|
| Barrier event: | Fund's closing level is less than barrier level on any day during life of notes
|
| Initial share price: | $214.69
|
| Barrier: | $161.02, 75% of initial share price
|
| Pricing date: | June 13
|
| Settlement date: | June 18
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06366RPM1
|
© 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.
