By Angela McDaniels
Tacoma, Wash., Jan. 17 – Bank of Montreal priced $5.04 million of 0% bullish digital return notes with barrier due Feb. 18, 2020 linked to the lesser performing of the SPDR Dow Jones Industrial Average exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if either underlier closes below its barrier level, 65% of its initial level, on any trading day during the life of the notes.
If a barrier event does not occur, the payout at maturity will be par plus 9.45%.
If a barrier event occurs and the final level of the lesser-performing underlier is greater than or equal to its initial level, the payout will be par.
If a barrier event occurs and the final level of the lesser-performing underlier is less than its initial level, investors will lose 1% for every 1% that the lesser-performing underlier declines from its initial level.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Bullish digital return notes with barrier
|
| Underliers: | SPDR Dow Jones Industrial Average ETF and Russell 2000 index
|
| Amount: | $5,035,000
|
| Maturity: | Feb. 18, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Barrier event: | Either underlier closes below barrier level on any trading day during life of notes
|
| Payout at maturity: | If barrier event does not occur, par plus 9.45%; if barrier event occurs and final level of lesser-performing underlier is greater than or equal to initial level, par; if barrier event occurs and final level of lesser-performing underlier is less than initial level, 1% loss for every 1% that lesser-performing underlier declines from initial level
|
| Initial levels: | $240.64 for ETF and 1,445.218 for index
|
| Barrier levels: | $156.42 for ETF and 939.392 for index; 65% of initial levels
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 18
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.43%
|
| Cusip: | 06367WGR8
|
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