By Toni Weeks
San Luis Obispo, Calif., Oct. 30 - Bank of Montreal priced $276,000 of 0% barrier bullish enhanced return notes due Oct. 31, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the index closes below its 60% barrier level on any day during the life of the notes.
If the index finishes above its initial level, the payout at maturity will be par plus 115% of the index return.
If the index finishes at or below its initial level but a barrier event never occurs, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Barrier bullish enhanced return notes
|
| Underlying index: | S&P 500
|
| Amount: | $276,000
|
| Maturity: | Oct. 31, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus 1.15 times the return; if index falls but never closes below barrier level, par; otherwise, full exposure to losses
|
| Initial level: | 1,762.11
|
| Barrier level: | 1,057.27, 60% of initial level
|
| Pricing date: | Oct. 28
|
| Settlement date: | Oct. 31
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 3.5%
|
| Cusip: | 06366RRG2
|
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