Summary by Futu AI
Bank of Montreal announces new Capped Leveraged Buffered S&P 500 Index-Linked Notes with 200% upside participation rate and maturity expected within 25-28 months. The notes offer potential returns up to a maximum settlement amount between $1,213.40 and $1,251.00 per $1,000 principal.The notes provide principal protection if the S&P 500 Index declines by up to 15% from initial level, but investors risk losing approximately 1.1765% of principal for every 1% decline beyond 15%. The notes feature a buffer level at 85% of initial index level and do not pay periodic interest.The estimated initial value of notes will range from $969.00 to $999.00 per $1,000 principal amount, below the issue price. BMO Capital Markets Corp. serves as calculation agent, with notes expected to be issued around March 2025.
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