By Wendy Van Sickle
Columbus, Ohio, July 5 – Bank of Montreal priced $229,000 of 0% contingent risk absolute return notes with digital upside due Dec. 31, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission., 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 digital return of 21%.
If the fund falls by up to the 75% barrier 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
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| Issue: | Contingent risk absolute return notes with digital upside
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| Underlying fund: | VanEck Vectors Gold Miners exchange-traded fund
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| Amount: | $229,000
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| Maturity: | Dec. 31, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund gains, par plus 21%; if fund falls by up to 25%, par plus absolute return; otherwise, full exposure to any losses
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| Initial price: | $21.95
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| Barrier price: | $16.46, 75% of initial price
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| Pricing date: | June 26
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| Settlement date: | June 29
|
| Agent: | BMO Capital
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 1%
|
| Cusip: | 06367T6M7
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