Published on 7/6/2022 in the Prospect News Structured Products Daily.
New Issue: BMO prices $2.15 million booster notes linked to index basket
By Wendy Van Sickle
Columbus, Ohio, July 6 – Bank of Montreal priced $2.15 million of 0% booster notes due July 5, 2024 linked to an equally weighted basket of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket increases by more than 1%, the payout at maturity will be par plus the gain of the basket, capped at 8.1%.
If the final basket level is less than or equal to 101% of the initial level, the payout will be par plus 1%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Booster notes
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Basket components: | Dow Jones industrial average and S&P 500 index, 50% weights
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Amount: | $2,145,000
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Maturity: | July 5, 2024
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the basket gains by more than 1%, par plus the gain of the basket, capped at 8.1%; if the final basket level is less than or equal to 101% of the initial level, par plus 1%
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Initial levels: | 30,775.43 for Dow and 3,785.38 for S&P
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | BMO Capital Markets Corp.
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Fees: | 2%
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Cusip: | 06368GWG8
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