Published on 8/29/2014 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $2.02 million buffered bullish digital return notes on Russell
By Toni Weeks
San Luis Obispo, Calif., Aug. 29 – Bank of Montreal priced $2,024,000 of 0% buffered bullish digital return notes due Feb. 28, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus a digital return of 19.5%.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish digital return notes
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Underlying index: | Russell 2000
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Amount: | $2,024,000
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Maturity: | Feb. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index stays flat or gains, par plus 19.5%; par if index falls by up to 20%; exposure to losses beyond 20%
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Initial level: | 1,172.71
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Buffer level: | 938.17, 80% of initial level
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Pricing date: | Aug. 27
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Settlement date: | Aug. 29
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.25%
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Cusip: | 06366RVQ5
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