Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.39 million buffer enhanced return notes linked to Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Bank of Montreal priced $1.39 million of 0% buffer enhanced return notes due Sept. 29, 2028 linked to the performance of the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by up to 40% and will lose 1% for each 1% that the level of the index decreases by more than 40%.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Buffer enhanced return notes
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Underlying index: | Dow Jones industrial average
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Amount: | $1,386,000
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Maturity: | Sept. 29, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain of the index; par if the index falls by up to 40%; otherwise, 1% loss for each 1% of index decline below 40%
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Initial index level: | 33,618.88
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Buffer level: | 20,171.33; 60% of initial level
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Pricing date: | Sept. 29
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Settlement date: | Sept. 29
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 3.3%
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Cusip: | 06375MBA2
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