Published on 5/14/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $530,000 buffered contingent coupon notes linked to S&P 500
By Susanna Moon
Chicago, May 14 - Bank of Montreal priced $530,000 of buffered contingent coupon notes due May 15, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a coupon of at least 1% per year and, if the index level on an annual coupon observation date is more than the initial level, also a contingent coupon payment of 5.75%.
If the index finishes at or above the 85% trigger level, the payout at maturity will be par.
Otherwise, investors will share in losses beyond 15%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
|
Issue: | Buffered contingent coupon notes
|
Underlying index: | S&P 500
|
Amount: | $530,000
|
Maturity: | May 15, 2015
|
Coupon: | 1% and, if index closes above initial level on any observation date, also a contingent payment of 5.75%
|
Price: | Par
|
Payout at maturity: | Par unless index falls by more than 15%, in which exposure to losses beyond 15%
|
Initial level: | 1,357.99
|
Buffer level: | 1,154.29, 85% of initial level
|
Pricing date: | May 10
|
Settlement date: | May 15
|
Agent: | BMO Capital Markets Corp.
|
Fees: | None
|
Cusip: | 06366RAX3
|
© 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.