By Susanna Moon
Chicago, Aug. 15 – Bank of Montreal priced $360,000 of 0% buffered bullish return notes due Feb. 13, 2020 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum redemption amount of $1,155 for each $1,000 principal amount.
Investors will receive par if the fund 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 return notes
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| Underlying fund: | SPDR S&P Biotech ETF
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| Amount: | $360,000
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| Maturity: | Feb. 13, 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 fund gain, capped at 15.5%; par if fund falls by up to 10%; exposure to any losses beyond 10%
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| Initial level: | $95.41
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 2.1%
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| Cusip: | 06367WAV5
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