Published on 12/20/2021 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.44 million buffer enhanced return notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Dec. 20 – Bank of Montreal priced $1.44 million of 0% buffer enhanced return notes due Sept. 30, 2022 linked to the lesser performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any gain of the lesser performing index, capped at a return of par plus 14.6%.
Investors will receive par if the lesser performing index falls by up to 10% and will lose 1% for each 1% that the level of the lesser performing index decreases by more than 10%.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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Amount: | $1.44 million
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Maturity: | Sept. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any gain of the lesser performing index, capped at par plus 14.6%; par if the lesser performing index falls by up to 10%; 1% loss for each 1% that the level of the lesser performing index decreases by more than 10%
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Initial index levels: | 35,213.12 for Dow, 4,470.00 for S&P, 2,213.979 for Russell
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Buffer levels: | 31,691.81 for Dow, 4,023.00 for S&P, 1,992.581 for Russell, 90% of initial levels
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 0.43%
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Cusip: | 06368EUA8
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