- BMO announces redemption of MicroSectors FANG+ Index 3× Leveraged ETNs (FNGA) and the introduction of replacement FNGB ETNs.
- FNGA's last trading day is May 14, 2025, while FNGB offers discounted fees until August 19, 2025.
- FNGA's Call Settlement Date is expected on May 15, 2025.
The Bank of Montreal (BMO, Financial) has exercised its call right to redeem all outstanding MicroSectors™ FANG+™ Index 3× Leveraged ETNs (FNGA), with the Call Measurement Period commencing on May 2, 2025, and concluding on May 8, 2025. The final trading day for FNGA is anticipated to be May 14, 2025, leading up to the Call Settlement Date on May 15, 2025.
Alongside this, BMO highlights the availability of its successor product, the MicroSectors™ FANG+™ 3× Leveraged ETNs (FNGB), introduced on February 19, 2025. FNGB aims to provide a seamless transition for investors, offering the same three times leveraged exposure to the NYSE FANG+ Index, but with an initial discounted fee rate of 0.35% per annum, which will adjust to 0.95% after August 19, 2025.
The NYSE FANG+ Index, underlying both products, is an equally-weighted index that includes ten high-growth technology stocks, establishing daily resetting leverage specifically tailored for short-term sophisticated trading strategies. With FNGB ETNs already trading on the NYSE under the ticker FNGB, BMO ensures market access for investors despite the delisting of FNGA from the NYSE.
