By Angela McDaniels
Tacoma, Wash., June 27 – Bank of Montreal priced $1.44 million of 0% contingent risk absolute return notes due June 30, 2020 linked to the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF’s return is positive, the payout at maturity will be par plus 112.5% of the ETF's return.
If the ETF's return is less than or equal to zero but not less than negative 40%, the payout will be par plus the absolute value of the ETF's return.
If the ETF's return is less than negative 40%, investors will be fully exposed to the ETF's decline.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| Underlying ETF: | SPDR Euro Stoxx 50 ETF
|
| Amount: | $1.44 million
|
| Maturity: | June 30, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF’s return is positive, par plus 112.5% of ETF's return; if ETF's return is less than or equal to zero but not less than negative 40%, par plus absolute value of ETF's return; if ETF's return is less than negative 40%, full exposure to ETF's decline
|
| Initial share price: | $43.50
|
| Barrier level: | $26.10, 60% of initial share price
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 3.55%
|
| Cusip: | 06366RUM5
|
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