Published on 5/22/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.8 million buffered bullish enhanced return notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, May 22 – Bank of Montreal priced $1.8 million of 0% buffered bullish enhanced return notes due Nov. 22, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any gain of the laggard index, capped at par plus 27.5%.
Investors will receive par if the laggard index falls by up to 5% and will lose 1% for every 1% decline of the laggard index beyond 5%.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Buffered bullish return notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1,804,000
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Maturity: | Nov. 22, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any gain of laggard index, capped at par plus 27.5%; par if laggard index falls up to 5%; 1% loss for every 1% decline of laggard index beyond 5%
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Initial price: | 1,307.719 for Russell, 2,922.94 for S&P
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Buffer price: | 1,242.333, 2,776.79 for S&P, 95% of initial price
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Pricing date: | May 19
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Settlement date: | May 22
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Underwriter: | BMO Capital Markets Corp.
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Fees: | 0.6%
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Cusip: | 06367WJ38
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