By Angela McDaniels
Tacoma, Wash., Sept. 3 - Bank of Montreal priced $665,000 of 0% contingent risk absolute return notes due Sept. 4, 2015 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's return is positive, the payout at maturity will be par plus the ETF's return.
If the ETF's return is less than zero and a barrier event has not occurred, the payout will be par plus the absolute value of the ETF's return. A barrier event occurs if the ETF's closing share price is less than the barrier share price, 70% of the initial share price, on any day during the life of the notes.
If the ETF's return is less than zero and a barrier event has occurred, investors will be fully exposed to the ETF's decline from its initial share price.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying ETF: | iShares MSCI EAFE index fund
|
| Amount: | $665,000
|
| Maturity: | Sept. 4, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF's return is positive, par plus ETF's return; if ETF's return is less than zero and barrier event has not occurred, par plus absolute value of ETF's return; if ETF's return is less than zero and barrier event has occurred, full exposure to ETF's decline
|
| Barrier event: | ETF's closing share price is less than barrier level on any day during life of notes
|
| Initial share price: | $59.91
|
| Barrier: | $41.94, 70% of initial share price
|
| Pricing date: | Aug. 29
|
| Settlement date: | Sept. 4
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06366RQP3
|
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