By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Bank of Montreal priced $4.15 million of 0% contingent risk absolute return notes due Aug. 31, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes above its initial level, the payout at maturity will be par plus the return.
If the fund falls by up to the barrier level, 73% of the initial level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return notes
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| Underlying fund: | iShares MSCI Emerging Markets ETF
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| Amount: | $4,149,000
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| Maturity: | Aug. 31, 2020
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If fund gains, par plus return; if fund falls by up to 27%, par plus absolute return; otherwise, full exposure to any losses
|
| Initial level: | $44.10
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| Barrier level: | $32.19, 73% of initial level
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06367WBH5
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