New Issue: BMO sells $975,000 autocallable barrier notes with contingent coupon on Stoxx Banks, Russell

By Sarah Lizee

Olympia, Wash., July 17 – Bank of Montreal priced $975,000 of autocallable barrier notes with a contingent coupon due July 10, 2030 linked to the Euro Stoxx Banks index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon equal to 12% per year if each index closes above its coupon barrier, 70% of its initial level, on the observation date that quarter.

The notes will be automatically redeemed at par plus the contingent coupon if each index close above its initial level on any quarterly call date starting Oct. 7.

If the notes are not called, the payout at maturity will be par unless the final level of either index is less than the trigger level, 60% of its initial level, in which case investors will lose 1% for each 1% decline from the initial level of the least performing index.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupon
Underlying indexes:	Euro Stoxx Banks, Russell 2000
Amount:	$975,000
Maturity:	July 10, 2030
Coupon:	12% per year, payable quarterly if each index closes above coupon barrier on observation date
Price:	Par
Payout at maturity:	Par unless the final level of either index is less than the trigger level, in which case investors will lose 1% for each 1% decline from the initial level of the least performing index
Call:	At par plus contingent coupon if indexes close at or above initial prices on any quarterly call date starting Oct. 7
Initial levels:	67.04 for Stoxx Banks, 1,478.27 for Russell
Coupon barriers:	46.93 for Stoxx Banks, 1,034.789 for Russell, 70% of initial levels
Trigger levels:	40.22 for Stoxx Banks, 886.962 for Russell, 60% of initial levels
Pricing date:	July 15
Settlement date:	July 20
Agent:	BMO Capital Markets Corp.
Fees:	3.5%
Cusip:	06367WV59

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