Published on 7/6/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $5,000 buffered bullish enhanced return notes on S&P 500
By Tali Rackner
Norfolk, Va., July 6 – Bank of Montreal priced $5,000 of 0% buffered bullish enhanced return notes due June 30, 2020 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 150% of any index gain, up to a maximum return of $1,262.50 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.
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
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Amount: | $5,000
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Maturity: | June 30, 2020
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 150% of any index gain, subject to maximum return of $1,262.50 per $1,000 principal amount; par if index falls by up to 20%; otherwise, full exposure losses
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Initial index level: | 2,000.54
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Buffer level: | 1,600.43, 80% of initial level
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | BMO Capital Markets Corp.
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Fees: | 1.6%
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Cusip: | 06367TFX3
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