Published on 5/4/2017 in the Prospect News Structured Products Daily.
New Issue: BMO prices $10,000 bullish digital return barrier notes tied to S&P 500
By Susanna Moon
Chicago, May 4 – Bank of Montreal priced $10,000 of 0% bullish digital return notes with barrier due May 31, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the digital return of 8.25%.
Investors will receive par if the index falls by up to 10% and will be fully exposed to any losses if the index finishes below its 90% barrier level.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Bullish digital return notes with barrier
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Underlying index: | S&P 500
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Amount: | $10,000
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Maturity: | May 31, 2018
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Coupon: | 0%
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Price: | Par
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P Payout at maturity: | If index gains, par plus 8.25%; par if index falls by up to 10%; otherwise, 1% for each 1% decline
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Initial level: | 2,387.45
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Barrier level: | 90% of initial level
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Pricing date: | April 26
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Settlement date: | April 28
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Agent: | BMO Capital Markets Corp.
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Fees: | 1.43%
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Cusip: | 06367TUY4
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