Published on 10/17/2013 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $331,000 contingent risk absolute return notes on S&P 500
By Susanna Moon
Chicago, Oct. 17 - Bank of Montreal priced $331,000 of 0% contingent risk absolute return notes due Oct. 19, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the gain.
If index falls by up to the 76% barrier level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
|
Issue: | Contingent risk absolute return notes
|
Underlying index: | S&P 500
|
Amount: | $331,000
|
Maturity: | Oct. 19, 2015
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index gains, par plus return; if index falls by up to 24%, par plus absolute value of return; otherwise, full exposure to any losses
|
Initial level: | 1,698.06
|
Barrier level: | 1,290.53, 76% of initial share price
|
Pricing date: | Oct. 15
|
Settlement date: | Oct. 18
|
Agent: | BMO Capital Markets Corp.
|
Fees: | None
|
Cusip: | 06366RRP2
|
© 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.