Published on 1/29/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $95,000 contingent risk absolute return notes on SPDR Stoxx fund
By Susanna Moon
Chicago, Jan. 29 – Bank of Montreal priced $95,000 of 0% contingent risk absolute return notes due Jan. 29, 2021 linked to the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund gains, the payout at maturity will be par plus 120% of the fund return.
If the fund falls by up to 35%, the payout will be par plus the absolute value of the fund return, up to a maximum return of 35%.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Contingent risk absolute return notes
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Underlying fund: | SPDR Euro Stoxx 50 ETF
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Amount: | $95,000
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Maturity: | Jan. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund gain, par plus 1.2 times fund return; if fund falls by up to 35%, par plus absolute value of fund return, capped at 35%; otherwise, full exposure to any losses
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Initial price: | $37.51
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Barrier price: | $24.38, 65% of initial price
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Pricing date: | Jan. 27
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Settlement date: | Jan. 30
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Agent: | BMO Capital Markets Corp.
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Fees: | 3.55%
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Cusip: | 06366RYY5
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