Published on 9/29/2016 in the Prospect News Structured Products Daily.
New Issue: BMO prices $260,000 buffered bullish enhanced return notes tied to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Bank of Montreal priced $260,000 of 0% buffered bullish enhanced return notes due Sept. 28, 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 1.5 times any index gain, up to a maximum redemption amount of $1,140 per $1,000 principal amount.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
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: | $260,000
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Maturity: | Sept. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, with return capped at 14%; par if index falls by up to 20%; otherwise, 1% loss for every 1% that index declines beyond 20%
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Initial level: | 1,246.381
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Buffer level: | 997.105, 80% of initial level
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06367TKZ2
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