New Issue: BMO prices $255,000 barrier enhanced return notes on gold ETF

By Kiku Steinfeld

Chicago, Oct. 16 – Bank of Montreal price $255,000 of 0% barrier enhanced return notes due April 2, 2025 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 300% of any gain of the ETF, capped at 40.5%.

Investors will receive par if the ETF falls by up to 40% and will be fully exposed to the decline of the ETF if it falls below the 60% barrier level, payable in shares or cash at the option of the issuer.

BMO Capital Markets Corp. is the underwriter.

Issuer:	Bank of Montreal
Issue:	Barrier enhanced return notes
Underlying ETF:	VanEck Gold Miners ETF
Amount:	$255,000
Maturity:	April 2, 2025
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 300% of any gain of ETF, capped at 40.5%; par if ETF falls by up to 40%; full exposure to loss if ETF falls by more than 40%, payable in shares or cash at the option of the issuer
Initial ETF level:	$32.31
Barrier level:	$19.39, 60% of initial level
Pricing date:	March 28, 2023
Settlement date:	March 31, 2023
Underwriter:	BMO Capital Markets Corp.
Fees:	1.75%
Cusip:	06369NGJ4

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.