Published on 7/13/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.5 million buffer enhanced return notes linked to Russell 2000
By William Gullotti
Buffalo, N.Y., July 13 – Bank of Montreal priced $1.5 million of 0% buffer enhanced return notes due June 30, 2026 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, subject to a maximum return of par plus 48.2%.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% that the level of the 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 index: | Russell 2000 index
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Amount: | $1.5 million
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Maturity: | June 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any gain of the index, capped at par plus 48.2%; par if the index falls by up to 10%; otherwise, 1% loss for each 1% of index decline below 10%
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Initial index level: | 1,823.26
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Buffer level: | 1,640.934; 90% of initial level
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Strike date: | June 26
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Pricing date: | June 27
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Settlement date: | June 30
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 0.1%
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Cusip: | 06374VYE0
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