By William Gullotti
Buffalo, N.Y., Feb. 9 – Bank of Montreal priced $1.12 million of 0% contingent risk absolute return buffer notes due Feb. 8, 2027 linked to the stock performance of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes above the initial level, the payout at maturity will be par plus 1.5 times the stock gain, subject to a maximum return of par plus 86.2%.
If the stock declines by no more than 20%, the payout will be par plus the absolute value of the stock return.
Otherwise, investors will lose 1% for each 1% decline beyond 20%.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Contingent risk absolute return buffer notes
|
| Underlying stock: | Advanced Micro Devices, Inc.
|
| Amount: | $1,118,000
|
| Maturity: | Feb. 8, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any stock gain, capped at par plus 86.2%; if stock declines but finishes at or above the 80% buffer, par plus absolute value of the return; otherwise, 1% loss per 1% decline beyond 20%
|
| Initial level: | $174.23
|
| Buffer level: | $139.38; 80% of initial level
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 8
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 1.2%
|
| Cusip: | 06375MTS4
|
|
|
© 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.
