Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $2.35 million digital return barrier notes on S&P, Russell
Chicago, April 8 – Bank of Montreal priced $2.35 million of 0% digital return barrier notes due May 5, 2025 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing index’s return is greater than or equal to 70% of its initial level, the payout at maturity will be par plus 9%.
Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
BMO Capital Markets is the agent.
Issuer: | Bank of Montreal
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Issue: | Digital return barrier notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $2,346,000
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Maturity: | May 5, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the least performing index’s return is greater than or equal to digital barrier level, par plus 9%; otherwise, 1% loss for every 1% that the least performing index declines from its initial level
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Initial levels: | 2,065.037 for Russell, 5,205.81 for S&P
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Barrier levels: | 1,445.526 for Russell, 3,644.07 for S&P; 70% of initial levels
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Pricing date: | April 2
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Settlement date: | April 5
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Agent: | BMO Capital Markets
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Fees: | 0.43%
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Cusip: | 06376A3M0
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