Published on 5/22/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.78 million buffered bullish enhanced return notes on iShares EM
By Wendy Van Sickle
Columbus, Ohio, May 22 – Bank of Montreal priced $1.78 million of 0% buffered bullish enhanced return notes due Nov. 22, 2021 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any fund gain, capped at par plus 24%.
Investors will receive par if the fund falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
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: | iShares MSCI Emerging Markets ETF
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Amount: | $1,779,000
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Maturity: | Nov. 22, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any fund gain, capped at par plus 24%; par if fund falls up to 5%; 1% loss for every 1% decline beyond 5%
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Initial price: | $37.14
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Buffer price: | $35.28, 95% of initial price
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Pricing date: | May 19
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Settlement date: | May 22
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 0.6%
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Cusip: | 06367WJ46
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