Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $766,000 buffer enhanced return notes linked to S&P
By Kiku Steinfeld
Chicago, April 22 – Bank of Montreal priced $766,000 of 0% buffer enhanced return notes due July 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 200% of the index return capped at 11.8%. If the index declines by 15% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying index: | S&P 500 index
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Amount: | $766,000
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Maturity: | July 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 200% of index return capped at 11.8%; if index declines by 15% or less, par; otherwise, 1% loss for every 1% that index declines beyond 15%
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Initial level: | 4,537.41
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Buffer level: | 3,856.80, 85% of initial level
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Pricing date: | July 27, 2023
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Settlement date: | July 31, 2023
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Agent: | BMO Capital Markets Corp.
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Fees: | 0%
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Cusip: | 06375M2N4
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