Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $510,000 buffer enhanced return notes linked to two-index basket
Chicago, Sept. 26 – Bank of Montreal priced $510,000 of 0% buffer enhanced return notes due Sept. 27, 2027 linked to an equally-weighted basket of two indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index and the Russell 2000 index.
The payout at maturity will be par plus 111% of any gain of the basket.
Investors will receive par if the basket falls by up to 20% and will lose 1% for every 1% decline of the basket beyond 20%.
BMO Capital Markets Corp. is the underwriter.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying indexes: | S&P 500 index (50% weight), Russell 2000 index (50% weight)
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Amount: | $510,000
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Maturity: | Sept. 27, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 111% of any basket gain; par if basket falls by up to 20%; otherwise, 1% loss per 1% decline of basket beyond 20%
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Initial index levels: | 3,757.99 for S&P, 1,722.31 for Russell
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Buffer level: | 80% of initial level
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Pricing date: | Sept. 22, 2022
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Settlement date: | Sept. 27, 2022
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 0.625%
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Cusip: | 06374V5P7
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