Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $932,000 contingent risk absolute return buffer notes on Nasdaq-100
By Wendy Van Sickle
Columbus, Ohio, Jan. 16 – Bank of Montreal priced $932,000 of 0% contingent risk absolute return buffer notes due April 10, 2025 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus 100% of the index gain, subject to a maximum return of par plus 9.99%.
If the index declines by no more than 20%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline beyond 20%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
|
Issue: | Contingent risk absolute return buffer notes
|
Underlying index: | Nasdaq-100 index
|
Amount: | $932,000
|
Maturity: | April 10, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 100% of any index gain, capped at par plus 9.99%; if index declines but finishes at or above the 80% buffer, par plus absolute value of the return; otherwise, 1% loss per 1% decline beyond 20%
|
Initial level: | 16,305.98
|
Buffer level: | 13,044.78; 80% of initial level
|
Pricing date: | Jan. 5
|
Settlement date: | Jan. 10
|
Agent: | BMO Capital Markets Corp.
|
Fees: | 0.375%
|
Cusip: | 06375MQK4
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.