Published on 10/3/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $911,000 buffer enhanced return notes linked to Nasdaq
Chicago, Oct. 3 – Bank of Montreal priced $911,000 of 0% buffer enhanced return notes due Nov. 3, 2023 linked to the performance of the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, subject to a maximum return of par plus 16.6%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% that the level of the index decreases by more than 15%.
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 index: | Nasdaq-100 index
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Amount: | $911,000
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Maturity: | Nov. 3, 2023
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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 index, capped at par plus 16.6%; par if the index falls by up to 15%; otherwise, 1% loss for each 1% of index decline below 15%
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Initial index level: | 11,493.83
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Buffer level: | 9,769.76; 85% of initial level
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Pricing date: | Sept. 28, 2022
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Settlement date: | Oct. 3, 2022
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 0.43%
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Cusip: | 06374V4M5
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