Published on 11/11/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $645,000 buffered bullish enhanced return notes on S&P, Russell
By Taylor Fox
New York, Nov. 11 – Bank of Montreal priced $645,000 of 0% buffered bullish enhanced return notes due Nov. 19, 2021 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, capped at par plus 12%.
Investors will receive par if the lesser performing index falls by up to 10% and will lose 1% for every decline of the lesser performing index beyond 10%.
BMO Capital Markets Corp. is the underwriter.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish enhanced return notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $645,000
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Maturity: | Nov. 19, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any gain of lesser-performing index, capped at par plus 12%; par if lesser-performing index falls by up to 10%; 1% loss per 1% decline of lesser-performing index beyond 10%
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Initial index levels: | 3,488.67 for S&P and 1,621.651 for Russell
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Buffer levels: | 3,139.80 for S&P and 1,459.486 for Russell; 90% of initial levels
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Pricing date: | Oct. 14
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Settlement date: | Oct. 19
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Agent: | BMO Capital Markets Corp.
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Fees: | 1.93%
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Cusip: | 06367W6X6
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