Bank of Montreal (BMO) and National Bank of Canada (NBC) have both issued a significant number of structured products tied to dividend underlyings during the final quarter of 2021 (1 August – 31 October), SRP data shows.

BMO issued a total of 124 structured products tied to the dividend underlying sector in Q4 21 with sales amounting to US$305m. The sector was the most popular during the period with common underlyings being the Solactive factor index offering such as Solactive Canada Pipelines AR Index, Solactive Canada Bank 30 AR Index, and Solactive Canada Insurance AR Index. Other popular underlying sectors for the Q4 21 period were travel and leisure (27 products), banking (22 products), and transportation

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