The present invention relates to a peroxide curable rubber compound comprising a peroxide curative and a high multiolefin halobutyl ionomer prepared by reacting a halogenated butyl polymer having a high mol percent of multiolefin with at least one nitrogen and/or phosphorus based nucleophile. The resulting high multiolefin halobutyl ionomer comprises from about 2 to 10 mol % multiolefin. The present invention is also directed to a shaped article comprising the rubber compound.