Published on 10/1/2018 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.41 million buffered bullish enhanced return notes on S&P
By Sarah Lizee
Olympia, Wash., Oct. 1 – Bank of Montreal priced $1.41 million of 0% buffered bullish enhanced return notes due Sept. 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 200% of any index gain up to a maximum redemption amount of $1,183 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: | $1,412,000
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Maturity: | Sept. 30, 2020
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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 18.3%; par if the index falls by up to 10%; exposure to any losses beyond 10%
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Initial level: | 2,915.56
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Buffer level: | 2,624, 90% of initial level
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Pricing date: | Sept. 25
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Settlement date: | Sept. 28
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Agent: | BMO Capital Markets Corp.
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Fees: | None
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Cusip: | 06367WCL5
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