Published on 1/30/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.33 million barrier enhanced return notes linked to stock basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – Bank of Montreal priced $1.33 million of 0% barrier enhanced return notes due Jan. 31, 2025 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the shares of Apple Inc., Amazon.com, Inc., Netflix, Inc., Alphabet Inc., Microsoft Corp., Tesla, Inc., Nvidia Corp. and Meta Platforms, Inc., each with a 12.5% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the return up to $1,505.00 for each $1,000 in principal amount.
Investors will receive par if the basket declines by 25% or less and will otherwise lose 1% for every 1% that the basket declines from initial level.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Barrier enhanced return notes
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| Underlying funds: | Apple Inc., Amazon.com, Inc., Netflix, Inc., Alphabet Inc., Microsoft Corp., Tesla, Inc., Nvidia Corp. and Meta Platforms, Inc., each with a12.5% weight
|
| Amount: | $1,325,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket return is positive, par plus 150% of basket return up to $1,505.00 for each $1,000 in principal amount; par if basket declines by 25% or less; otherwise, 1% loss for every 1% that basket declines from initial level
|
| Initial levels: | $141.86 for Apple, $97.18 for Amazon, $367.96 for Netflix, $95.22 for Alphabet, $240.61 for Microsoft, $144.43 for Tesla, $193.23 for Nvidia, $141.50 for Meta
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| Barrier level: | 75% of initial level
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 2.35%
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| Cusip: | 06374VL95
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