By Devika Patel
Knoxville, Tenn., Dec. 30 – Bank of Montreal priced $50,000 of 0% contingent risk absolute return notes due Dec. 31, 2021 linked to the SPDR Dow Jones Industrial Average exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund’s return is positive, the payout at maturity will be par plus 105% of the fund’s return.
If the fund’s return is less than or equal to zero but not less than negative 30%, the payout will be par plus the absolute value of the fund’s return.
If the fund’s return is less than negative 30%, investors will be fully exposed to the fund’s decline.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
|
| ETF: | SPDR Dow Jones Industrial Average
|
| Amount: | $50,000
|
| Maturity: | Dec. 31, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund’s return is positive, par plus 105% of fund’s return; if fund’s return is less than or equal to zero but not less than negative 30%, par plus absolute value of fund’s return; if fund’s return is less than negative 30%, full exposure to fund’s decline
|
| Initial level: | $174.98
|
| Barrier level: | $122.49, or 70% of initial level
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 3.5%
|
| Cusip: | 06366R5P6
|
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