Published on 2/4/2019 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.01 million bullish digital return notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 4 – Bank of Montreal priced $1.01 million of 0% bullish digital return notes with barrier due March 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 9%.
If the index return is zero or negative but at least negative 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline below the initial level.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Bullish digital return notes
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Underlying index: | S&P 500 index
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Amount: | $1,011,000
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Maturity: | March 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 9%; if the index return is zero or negative but at least negative 15%, par; otherwise, full exposure to losses
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Initial value: | 2,664.76
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Barrier level: | 2,265.05, 85% of initial value
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Agent: | BMO Capital Markets Corp.
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Fees: | 1.75%
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Cusip: | 06367WGY3
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