Published on 3/28/2014 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $9,000 autocallable barrier notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., March 28 - Bank of Montreal priced $9,000 of 0% autocallable barrier notes with step-up call price due March 31, 2016 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 9% per year if the index's closing level is greater than the initial index level on March 26, 2015 or March 28, 2016.
If the notes are not called, the payout at maturity will be par unless the final index level is less than the barrier level, 85% of the initial level, in which case investors will lose 1% for every 1% that the final level is less than the initial level.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Autocallable barrier notes with step-up call price
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Underlying index: | Euro Stoxx 50
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Amount: | $9,000
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Maturity: | March 31, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless final index level is less than barrier level, in which case 1% loss for every 1% that final level is less than initial level
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Call: | Automatically at par plus 9% per year if index's closing level is greater than initial index level on March 26, 2015 or March 28, 2016
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Initial index level: | 3,130.17
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Barrier level: | 2,660.64, 85% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.25%
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Cusip: | 06366RTD7
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