Published on 5/4/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $61,000 bullish enhanced return notes on oil and gas ETF
By Toni Weeks
San Luis Obispo, Calif., May 4 – Bank of Montreal priced $61,000 of 0% bullish enhanced return notes due Nov. 7, 2016 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any fund gain, subject to a maximum return of 37%.
Investors will be exposed to any losses.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Bullish enhanced return notes
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Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $61,000
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Maturity: | Nov. 7, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, capped at 37%; exposure to any losses
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Initial level: | $55.09
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.6%
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Cusip: | 06366RK38
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