Published on 5/27/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $905,000 buffered bullish enhanced notes tied to S&P 500
By Toni Weeks
San Luis Obispo, Calif., May 27 – Bank of Montreal priced $905,000 of 0% buffered bullish enhanced return notes due Aug. 31, 2016 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 200% of any index gain, up to a maximum return of 12%.
Investors will receive par if the index fall by up to 5% and will lose 1% for each 1% decline beyond 5%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish enhanced return notes
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Underlying index: | S&P 500
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Amount: | $905,000
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Maturity: | Aug. 31, 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 index gain, capped at 12%; par if index fall by up to 5%; 1% loss for each 1% decline beyond 5%
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Initial level: | 2,126.06
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Buffer level: | 2,019.76, 95% of initial level
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Pricing date: | May 22
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Settlement date: | May 28
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06366RN27
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