By Kiku Steinfeld
Chicago, Sept. 14 – Bank of Montreal priced $680,000 of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due March 3, 2023 linked to the Financial Select Sector SPDR fund, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 125% times any ETF gain, up to a maximum return of 25%.
Investors will receive par if the ETF finishes flat or falls by up to 10% and 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 notes with leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying ETF: | Financial Select Sector SPDR fund
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| Amount: | $680,000
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| Maturity: | March 3, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.25 times any ETF gain, capped at 25%; par if ETF falls by up to 10%; 1% loss for every 1% drop beyond 10%
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| Initial price: | $25.06
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| Threshold price: | $22.554 or 90% of initial level
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 3.05%
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| Cusip: | 06367W3H4
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