New Issue: Bank of Montreal prices $125,000 17% reverse exchangeables on Finisar

By Susanna Moon

Chicago, July 18 - Bank of Montreal priced $125,000 of 17% annualized reverse exchangeable notes due Oct. 19, 2011 linked to Finisar Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Finisar shares close below the trigger price - 75% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Finisar shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Finisar Corp. (Symbol: FNSR)
Amount:	$125,000
Maturity date:	Oct. 19, 2011
Coupon:	17%, payable monthly
Price:	Par
Payout at maturity:	Par unless Finisar shares fall below trigger price during life of notes and finish below initial share price, in which case 59.5948 Finisar shares
Initial price:	$16.78
Trigger price:	$12.59, 75% of initial price
Pricing date:	July 14
Settlement date:	July 19
Agent:	BMO Capital Markets Corp.
Fees:	1.75%
Cusip:	06366QQP5

© 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.