Published on 7/6/2016 in the Prospect News Structured Products Daily.
New Issue: BMO prices $375,000 buffered bullish enhanced return notes on Russell
By Tali Rackner
Norfolk, Va., July 6 – Bank of Montreal priced $375,000 of 0% buffered bullish enhanced return notes due June 19, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum redemption amount of $1,140 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 19.5% and will be exposed to any losses beyond 19.5%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish enhanced return notes
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Underlying index: | Russell 2000
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Amount: | $375,000
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Maturity: | June 29, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 150% of any index gain, capped at 9.33%; par if index falls by up to 19.5%; otherwise, full exposure losses
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Initial index level: | 1,089.646
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Buffer level: | 877.165, 80.5% of initial level
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06367TGJ3
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