Published on 4/12/2017 in the Prospect News Structured Products Daily.
New Issue: BMO prices $167,000 bullish digital return notes linked to S&P 500
By Tali Rackner
Minneapolis, April 12 – Bank of Montreal priced $167,000 of 0% bullish digital return notes with barrier due April 30, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the digital return of 9.75%.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline of the index from its initial level if it finishes below 90% of the initial level.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Bullish digital return notes with barrier
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Underlying index: | S&P 500
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Amount: | $167,000
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Maturity: | April 30, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 9.75%; par if index falls by up to 10%; otherwise, 1% for each 1% decline beyond 10%
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Initial level: | 2,358.57
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Barrier level: | 2,122.71, 90% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.43%
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Cusip: | 06367TTZ3
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