Published on 7/31/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $2.14 million buffered bullish digital notes linked to Russell
By Susanna Moon
Chicago, July 31 – Bank of Montreal priced $2.14 million of 0% buffered bullish digital return notes due Jan. 31, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the digital return of 17%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish digital return notes
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Underlying index: | Russell 2000
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Amount: | $2,135,000
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Maturity: | Jan. 31, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 17% if index gains; par if index falls by up to 15%; exposure to losses beyond 15%
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Initial level: | 1,224.6
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.25%
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Cusip: | 06366RR64
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