Published on 5/3/2023 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.02 million leveraged upside participation market-linked notes on gold ETF
Chicago, May 3 – Bank of Montreal priced $1.02 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due May 1, 2028 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of the gain in the fund, up to par plus 145%.
If the fund falls by up to 20%, the payout will be par.
Investors will lose 1% for every 1% decline of the fund beyond the 20% buffer.
Wells Fargo Securities LLC is the agent.
Issuer: | Bank of Montreal
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Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying ETF: | VanEck Gold Miners ETF
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Amount: | $1,016,000
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Maturity: | May 1, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of the gain in the fund, up to par plus 145%; if fund falls by up to 20%, par; otherwise, 1% loss for every 1% decline of fund beyond 20% buffer
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Initial share price: | $33.33
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Buffer level: | $26.664, 80% of initial level
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Pricing date: | April 26
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Settlement date: | May 1
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Agent: | Wells Fargo Securities LLC
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Fees: | 3.87%
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Cusip: | 06374VTE6
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