Published on 8/5/2016 in the Prospect News Structured Products Daily.
New Issue: BMO prices $3.36 million buffered bullish enhanced return notes linked to Vanguard RETI ETF
By Angela McDaniels
Tacoma, Wash., Aug. 5 – Bank of Montreal priced $3.36 million of 0% buffered bullish enhanced return notes due Nov. 8, 2017 linked to the Vanguard REIT exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any ETF gain, up to a maximum redemption amount of $1,140 for each $1,000 principal amount. Investors will receive par if the ETF falls by up to 10% and will lose 1.1111% for every 1% that it may decline beyond 10%.
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 ETF: | Vanguard REIT ETF
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Amount: | $3.36 million
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Maturity: | Nov. 8, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any ETF gain, with return capped at 14%; par if ETF falls by up to 10%; otherwise, 1.1111% loss for every 1% that ETF declines beyond 10%
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Initial share price: | $90.64
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Pricing date: | Aug. 3
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Settlement date: | Aug. 8
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.25%
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Cusip: | 06367TJP6
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