Business
BMO Provides a Reminder of the Upcoming Redemption of MicroSectors™ FANG+™ Index 3× Leveraged ETNs (Ticker: FNGA) and the Availability of MicroSectors™ FANG+™ 3× Leveraged ETNs (Ticker: FNGB)
Bank of Montreal ("BMO") provided a reminder today of (i) its intention to exercise its call right and redeem all of the outstanding securities of its MicroSectorsTM FANG+TM Index 3× Leveraged ETNs due January 8, 2038, CUSIP: 063679534 (the "FNGA ETNs"); and (ii) the availability of a new Exchange Traded Note ("ETN"), the MicroSectorsTM FANG+TM 3× Leveraged ETNs due February 17, 2045, CUSIP: 063679385 (the "FNGB ETNs"). BMO previously announced these events on February 19, 2025.
About this update from Bank Of Montreal
[{"type":"text","content":"Filed Pursuant to Rule 433Registration Statement No. 333-285508April 24, 2025","length":79,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, April 24, 2025 /PRNewswire/ - Bank of Montreal ("BMO") provided a reminder today of (i) its intention to exercise its call right and redeem all of the outstanding securities of its MicroSectorsTM FANG+TM Index 3× Leveraged ETNs due January 8, 2038, CUSIP: 063679534 (the "FNGA ETNs"); and (ii) the availability of a new Exchange Traded Note ("ETN"), the MicroSectorsTM FANG+TM 3× Leveraged ETNs due February 17, 2045, CUSIP: 063679385 (the "FNGB ETNs"). BMO previously announced these events on February 19, 2025.","length":598,"tagName":"p"},{"type":"text","content":"Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the applicable ETN Prospectus (as defined below) for the relevant ETNs.","length":167,"tagName":"p"},{"type":"text","content":"Reminder of the Redemption of FNGA ETNs","length":39,"tagName":"p"},{"type":"text","content":"BMO would like to remind investors that it intends to exercise its call right and redeem all of the outstanding FNGA ETNs on the Call Settlement Date, which is expected to be May 15, 2025.","length":188,"tagName":"p"},{"type":"text","content":"The FNGA ETNs were launched in January 2018 with fees and charges that reflected the then-current market environment. BMO is exercising its call right because the costs associated with supporting the leverage embedded in the FNGA ETNs have increased and, therefore, the existing fees and charges applicable to the FNGA ETNs no longer reflect the current market environment.","length":373,"tagName":"p"},{"type":"text","content":"Further details regarding the redemption of the FNGA ETNs are provided below.","length":77,"tagName":"p"},{"type":"text","content":"Reminder of the Availability of FNGB ETNs","length":41,"tagName":"p"},{"type":"text","content":"On February 19, 2025, BMO launched a new MicroSectors™ ETN linked to the gross total return version of the NYSE FANG+® Index (the "Index"). Since February 20, 2025, the FNGB ETNs have been trading on the NYSE Arca, Inc. (the "NYSE") under the ticker symbol "FNGB." The FNGB ETNs are intended to offer sophisticated inv...