By Wendy Van Sickle
Columbus, Ohio, April 11 – Bank of Montreal priced $8 million of 0% buffer enhanced return notes due April 8, 2027 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 50% weight and the Russell 2000 index with a 50% weight.
The payout at maturity will be par plus 110% of any gain of the basket, subject to a maximum return of par plus 41%.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline of the basket beyond the 15% buffer.
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 assets: | S&P 500 index (50% weight), Russell 2000 index (50% weight)
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| Amount: | $8 million
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| Maturity: | April 8, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 110% of any basket gain, capped at par plus 41%; par if basket falls by up to 15%; otherwise, 1% loss per 1% decline of basket beyond 15%
|
| Initial levels: | 5,204.34 for S&P 500, 2,063.47 for Russell
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| Buffer level: | 85% of initial level
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| Pricing date: | April 5
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| Settlement date: | April 10
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| Underwriter: | BMO Capital Markets Corp.
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| Fees: | 2.85%
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| Cusip: | 06376AC73
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