By Wendy Van Sickle
Columbus, Ohio, June 13 – Bank of Montreal priced $1 million of 0% buffer enhanced return notes due June 1, 2026 linked to the performance of the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 109% of any ETF gain.
Investors will receive par if the ETF falls by up to 15% and will lose 1% for each 1% that the level of the ETF decreases by more than 15%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Buffer enhanced return notes
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| Underlying fund: | SPDR S&P Regional Banking ETF
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| Amount: | $1 million
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| Maturity: | June 1, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 109% of any gain of the ETF; par if the ETF falls by up to 15%; otherwise, 1% loss for each 1% of ETF decline below 15%
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| Initial level: | $40.29
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| Buffer level: | $34.25; 85% of initial level
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 0.75%
|
| Cusip: | 06374VVS2
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