Published on 12/28/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal sells $369,000 buffered bullish enhanced notes on S&P
By Susanna Moon
Chicago, Dec. 28 – Bank of Montreal priced $369,000 of 0% buffered bullish enhanced return notes due March 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, up to a maximum return of par plus 14%.
Investors will receive par if the index falls by up to 5% and will lose 1% for each 1% decline beyond 5%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish enhanced return notes
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Underlying index: | S&P 500 index
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Amount: | $369,000
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Maturity: | March 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 14%; par if index falls by up to 5%; exposure to losses beyond 5%
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Initial level: | 2,064.29
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Pricing date: | Dec. 23
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Settlement date: | Dec. 31
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06366R5T8
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