New Issue: BMO sells $574,000 contingent risk absolute return notes on iShares MSCI EAFE

By Devika Patel

Knoxville, Tenn., Dec. 23 – Bank of Montreal priced $574,000 of 0% contingent risk absolute return notes due Dec. 24, 2018 linked to the iShares MSCI EAFE 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 the fund’s return.

If the fund’s return is negative and the fund hasn't closed below 68% of its initial level during the life of the notes, the payout will be par plus the absolute value of the fund’s return, subject to a cap of $1,320.

Otherwise, investors will lose 1% for each 1% decline.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Contingent risk absolute return notes
ETF:	iShares MSCI EAFE
Amount:	$574,000
Maturity:	Dec. 24, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If fund’s return is positive, par plus the fund’s return; if fund’s return is negative and the fund hasn't closed below 68% of its initial level during the life of the notes, par plus absolute value of fund’s return, up to $1,320; otherwise, 1% loss for each 1% decline
Initial level:	$58.24
Barrier level:	68% of initial level
Pricing date:	Dec. 20
Settlement date:	Dec. 23
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06367TQG8

© 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.