Published on 4/19/2021 in the Prospect News Structured Products Daily.
New Issue: BMO sells $3.1 million leveraged buffered notes linked to S&P 500
By Kiku Steinfeld
Chicago, April 19 – Bank of Montreal priced $3.1 million of 0% market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside due Oct. 6, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any gain in the index, up to a maximum of par plus 15%.
If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Bank of Montreal
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Issue: | Market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $3,104,000
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Maturity: | Oct. 6, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 15%; par if index falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
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Initial level: | 3,972.89
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Threshold level: | 3,575.601, 90% of initial level
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Pricing date: | March 31
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Settlement date: | April 6
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.62%
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Cusip: | 06368EFM9
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