Published on 11/27/2018 in the Prospect News Structured Products Daily.
New Issue: BMO sells $2.93 million bullish digital return notes with barrier on indexes
By Sarah Lizee
Olympia, Wash., Nov. 27 – Bank of Montreal priced $2.93 million of 0% bullish digital return notes with barrier due Dec. 23, 2019 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If neither index closes below 65% of its initial level during the life of the notes, the payout at maturity will be par plus the digital return of 8.3%.
Investors will receive par if either index closes below 65% of its initial level, but both indexes finish at or above their initial level.
Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its 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 indexes: | S&P 500, Euro Stoxx 50
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Amount: | $2,927,000
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Maturity: | Dec. 23, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If neither index closes below 65% of its initial level during the life of the notes, par plus the digital return of 8.3%; par if either index closes below 65% of its initial level, but both indexes finish at or above their initial level; otherwise, 1% loss for each 1% decline of the lesser performing index from its initial level
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Initial levels: | 2,736.27 for S&P, 3,180.74 for Stoxx
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Barrier levels: | 1,778.58 for S&P, 2,067.48 for Stoxx , 65% of initial levels
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Pricing date: | Nov. 16
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Settlement date: | Nov. 21
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.43%
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Cusip: | 06367WET6
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