Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: BMO prices $25,000 bullish digital return barrier notes on index, fund
By Susanna Moon
Chicago, July 10 – Bank of Montreal priced $25,000 of 0% bullish digital return notes with barrier due July 31, 2018 linked to the worse performing of the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying component finishes above its 80% barrier level, the payout at maturity will be par plus the digital return of 8.9%.
Otherwise, investors will be fully exposed to any losses of the worse performing component.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Bullish digital return notes with barrier
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Underlying assets: | S&P 500 index, iShares MSCI Emerging Markets ETF
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Amount: | $25,000
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Maturity: | July 31, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each component gains or falls by up to 80% barrier, par plus 8.9%; otherwise, 1% for each 1% decline of worse performing component
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Initial levels: | 2,419.38 for S&P, $41.41 for MSCI EM fund
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Barrier levels: | 1,935.50 for S&P, $33.13 for MSCI EM fund, 80% of initial levels
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.43%
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Cusip: | 06367TYE4
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