Published on 1/23/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.06 million buffer enhanced return notes linked to VanEck Gold Miners ETF
By William Gullotti
Buffalo, N.Y., Jan. 23 – Bank of Montreal priced $1.06 million of 0% buffer enhanced return notes due Jan. 30, 2024 linked to the performance of the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any ETF gain, subject to a maximum return of par plus 29.3%.
Investors will receive par if the ETF falls by up to 10% and will lose 1% for each 1% that the level of the ETF decreases by more than 10%.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying fund: | VanEck Vectors Gold Miners ETF
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Amount: | $1,055,000
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Maturity: | Jan. 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any gain of the ETF, capped at par plus 29.3%; par if the ETF falls by up to 10%; otherwise, 1% loss for each 1% of ETF decline below 10%
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Initial level: | $31.21
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Buffer level: | $28.09; 90% of initial level
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Pricing date: | Jan. 18
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Settlement date: | Jan. 23
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 1%
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Cusip: | 06374VJW7
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