Published on 8/2/2019 in the Prospect News Structured Products Daily.
New Issue: BMO prices $482,000 bullish booster percentage notes with barrier on S&P, Russell
By Sarah Lizee
Olympia, Wash., Aug. 2 – Bank of Montreal priced $482,000 of 0% bullish booster percentage notes with barrier due July 29, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
BMO Capital Markets Corp. is the agent.
If the lesser performing index increases above the booster percentage, which is 120% of the initial level, the payout at maturity will be par plus the return of the lesser performing index.
If the lesser performing index increases but by less than the booster percentage, the payout will be par plus 20%.
If the lesser performing index is zero or negative but not by more than 70% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
| Issuer: | Bank of Montreal
|
| Issue: | Buffered bullish enhanced return notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $482,000
|
| Maturity: | July 29, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the lesser performing index increases above the booster percentage, 120% of the initial level, par plus the return of the lesser performing index; if the lesser performing index increases but by less than the booster percentage, par plus 20%; if the lesser performing index is zero or negative but not by more than 70% of the initial level, par; otherwise, 1% loss for each 1% decline of the lesser performing index from its initial level
|
| Initial index levels: | 3,025.86 for S&P, 1,578.967 for Russell
|
| Barrier levels: | 2,118.10 for S&P, 1,105.277 for Russell, 70% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 1.2%
|
| Cusip: | 06367WMY6
|
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