Published on 4/13/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $3.09 million market-linked notes on basket
By Wendy Van Sickle
Columbus, Ohio, April 13 – Bank of Montreal priced $3.09 million of 0% market-linked securities – upside participation to a cap and fixed-percentage buffered downside due Jan. 3, 2022 linked to a basket containing equal weights of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the basket up to a maximum of par plus 20.3%.
If the basket falls but not beyond 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Bank of Montreal
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Issue: | Market-linked securities – upside participation to a cap and fixed-percentage buffered downside
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Underlying basket: | S&P 500 index, Euro Stoxx 50 index, each with 50% weights
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Amount: | $3,088,000
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Maturity: | Jan. 3, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain basket up to a maximum of par plus 20.3%; par if basket falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
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Initial level: | 2,584.59 for S&P, 2,786.9 for Stoxx
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Barrier level: | 90% of initial level
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.07%
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Cusip: | 06367WXA6
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