Published on 7/17/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $289,000 barrier enhanced return notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., July 17 – Bank of Montreal priced $289,000 of 0% barrier enhanced return notes due July 20, 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.
The payout at maturity will be par plus 125% of any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 20% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 80% barrier level.
BMO Capital Markets Corp. is the underwriter.
Issuer: | Bank of Montreal
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Issue: | Barrier enhanced return notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $289,000
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Maturity: | July 20, 2022
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 125% of any gain of lesser-performing index; par if lesser-performing index falls by up to 20%; full exposure to decline of lesser-performing index if it falls by more than 20%
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Initial index levels: | 3,226.56 for S&P and 1,478.27 for Russell
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Barrier levels: | 2,581.25 for S&P and 1,182.616 for Russell; 80% of initial levels
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Pricing date: | July 15
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Settlement date: | July 20
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 0.8%
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Cusip: | 06367WW90
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