BMO issued three ETNs

The Bank of Montreal has issued several Exchange Traded Notes that are each linked to the performance of the NYSE FANG+ Index, total return. The instruments issued are the following:

  • MicroSectors FANG Index 2X Leveraged ETNs due January 8, 2038 (FNGO): FNGO seek to approximate the returns that might be available to investors through a leveraged “long” investment in the Index.
  • MicroSectors FANG Index -2X Inverse Leveraged ETNs due January 8, 2038 (FNGZ): FNGZ seek to provide a leveraged inverse return based on the performance of the Index (as adjusted for costs and fees).
  • MicroSectors FANG Index Inverse ETNs due January 8, 2038 (GNAF): The value of GNAF will be affected by not only the increase or decrease in the level of the Index over a given time period but also the volatility of the level of the Index over such time period.
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