New Issue: BMO prices $1.85 million buffered bullish notes linked to Vanguard ETF

By Angela McDaniels

Tacoma, Wash., Aug. 1 – Bank of Montreal priced $1.85 million of 0% buffered bullish enhanced return notes due July 30, 2021 linked to the Vanguard Extended Market exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum return of 15%. Investors will receive par if the ETF falls by up to 16% and will lose 1% for every 1% that it declines beyond 16%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish enhanced return notes
Underlying ETF:	Vanguard Extended Market ETF
Amount:	$1,854,000
Maturity:	July 30, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 150% of ETF return, subject to maximum return of 15%; par if ETF falls by up to 16%; 1% loss for every 1% that ETF declines beyond 16%
Initial price:	$121.78
Buffer price:	$102.30, 84% of initial price
Pricing date:	July 26
Settlement date:	July 31
Underwriter:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06367WNN9

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.