New Issue: BMO prices $1.8 million contingent digital return barrier notes on S&P, Russell

By William Gullotti

Buffalo, N.Y., July 21 – Bank of Montreal priced $1.8 million of 0% contingent digital return barrier notes due Jan. 20, 2023 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the least performing index’s return is greater than or equal to its initial level, the payout at maturity will be par plus 9.5%.

If any index declines but each finishes at or above the 70% barrier, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.

BMO Capital Markets is the agent.

Issuer:	Bank of Montreal
Issue:	Contingent digital return barrier notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$1,801,000
Maturity:	Jan. 20, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the least performing index’s return is greater than or equal to initial level, par plus 9.5%; if any index declines but each finishes at or above the 70% barrier, par; otherwise, 1% loss for every 1% that the least performing index declines from its initial level
Initial levels:	2,190.293 for Russell, 4,360.03 for S&P
Principal barrier levels:	1,533.205 for Russell, 3,052.02 for S&P; 70% of initial levels
Pricing date:	July 15
Settlement date:	July 20
Agent:	BMO Capital Markets
Fees:	None
Cusip:	06368ESM5

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.