Published on 10/1/2018 in the Prospect News Structured Products Daily.
New Issue: BMO sells $648,000 buffered bullish digital return notes on Russell
By Sarah Lizee
Olympia, Wash., Oct. 1 – Bank of Montreal priced $648,000 of 0% buffered bullish digital return notes due March 31, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is at least negative 15%, the payout at maturity will be par plus 18.75%. Otherwise, investors will lose 1% for every 1% decline beyond 15%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish digital return notes
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Underlying index: | Russell 2000 index
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Amount: | $648,000
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Maturity: | March 31, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is at least negative 15%, par plus 18.75%; otherwise, 1% loss for every 1% decline beyond 15%
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Initial value: | 1,708.805
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Buffer level: | 1,452.484, 85% of initial value
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Pricing date: | Sept. 25
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Settlement date: | Sept. 28
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.75%
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Cusip: | 06367WBL6
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