Published on 5/17/2018 in the Prospect News Structured Products Daily.
New Issue: BMO sells $280,000 buffered bullish enhanced notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., May 17 – Bank of Montreal priced $280,000 of 0% buffered bullish enhanced return notes due Aug. 16, 2019 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 1.5 times any index gain, up to a maximum redemption amount of $1,105 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the buffer.
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: | $280,000
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Maturity: | Aug. 16, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, capped at 10.5%; par if the index falls by up to 10%; exposure to any losses beyond 10%
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Initial level: | 2,727.72
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Buffer level: | 2,454.95, 90% of initial level
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Pricing date: | May 11
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Settlement date: | May 16
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.25%
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Cusip: | 06367T5W6
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