Published on 12/24/2014 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $1.66 million buffered bullish return notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Dec. 24 – Bank of Montreal priced $1.66 million of 0% buffered bullish return notes due June 26, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index, up to a maximum return of 29%.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish return notes
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Underlying index: | S&P 500
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Amount: | $1,663,000
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Maturity: | June 26, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 29%; par if index falls by up to 15%; exposure to losses beyond 15%
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Initial level: | 2,078.54
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Buffer level: | 1,766.76, 85% of initial level
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Pricing date: | Dec. 22
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Settlement date: | Dec. 26
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.5%
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Cusip: | 06366RYG4
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