MicroSectors U.S. Big Banks 3 Leveraged ETN
BNKU
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 900 Third Avenue, 31st Floor New York NY United States of America 10022
- IPO Date
- Feb 20, 2025
- CIK
- 0000927971
- Website
- microsectors.com
- Similar Companies
- Business
- MicroSectors U.S. Big Banks 3x Leveraged ETNs (BNKU) are exchange-traded notes issued by Bank of Montreal that provide three times the daily performance of the Solactive MicroSectors U.S. Big Banks Index, an equally weighted index tracking ten of the largest U.S. banking and investment services companies classified by FactSet RBICS; the ETNs incorporate total return calculations including dividends from index components but do not pay dividends themselves, with returns reflected solely in price movements, and feature daily leverage reset, daily investor fees, and daily financing charges based on the U.S. Federal Funds Effective Rate plus 1.00%; they serve as senior unsecured medium-term notes with a designated maturity date, targeted at experienced investors for short-term tactical exposure to the U.S. big banks sector. Bank of Montreal, founded in 1817 and headquartered in Toronto, Ontario, Canada, issues the BNKU ETNs through its U.S. operations and lists them on NYSE Arca; the bank operates globally across retail banking, wealth management, and capital markets segments, with a focus on North America. In March 2023, Bank of Montreal executed Amendment No. 5 to the BNKU pricing supplement, upsizing the aggregate principal amount from $125 million to $175 million by issuing an additional $50 million in reopened notes, enhancing liquidity and availability for investors.