New Issue: Bank of Montreal prices $3.13 million enhanced return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 22 – Bank of Montreal priced $3.13 million of 0% buffered bullish enhanced return notes due Dec. 27, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum payout of $1,133.50 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$3,128,000
Maturity:	Dec. 27, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index return, subject to maximum payout of $1,133.50 per $1,000 principal amount of notes; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
Initial index level:	2,100.40
Buffer level:	1,890.36, 90% of initial level
Pricing date:	April 20
Settlement date:	April 27
Agent:	BMO Capital Markets Corp.
Fees:	0.1%
Cusip:	06366RK20

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.