Published on 4/17/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $253,000 reverse exchangeable notes linked to Halliburton
New York, April 17 - Bank of Montreal priced $253,000 of 10% annualized reverse exchangeable notes due Oct. 18, 2012 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Halliburton stock closes below the trigger level, 80% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of shares of Halliburton stock 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: | Halliburton Co. (Symbol: HAL)
|
Amount: | $253,000
|
Maturity: | Oct. 18, 2012
|
Coupon: | 10% annualized, payable monthly
|
Price: | Par
|
Payout at maturity: | If Halliburton stock ever closes below trigger price and finishes below initial share price, a number of Halliburton shares equal to $1,000 divided by the initial share price; otherwise, par
|
Initial share price: | $32.41
|
Trigger price: | $25.93, 80% of initial price
|
Pricing date: | April 13
|
Settlement date: | April 18
|
Underwriters: | BMO Capital Markets Corp.
|
Fees: | 2%
|
Cusip: | 06366Q6L6
|
© 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.