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Published on 10/3/2023 in the Prospect News Structured Products Daily.

New Issue: BMO prices $754,000 autocallable reverse exchangeable notes on Matador

Chicago, Oct. 3 – Bank of Montreal priced $754,000 of autocallable reverse exchangeable notes due Sept. 30, 2025 linked to the performance of the stock of Matador Resources Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon equal to 12.5% per year.

The notes will be automatically redeemed at par if the stock closes at or above its initial level on any quarterly observation date starting after six months.

If the notes are not called and the stock finishes at or above 50% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the stock from its initial level.

BMO Capital Markets Corp. is the selling agent.

Issuer:Bank of Montreal
Issue:Autocallable reverse exchangeable notes
Underlying stock:Matador Resources Co.
Amount:$754,000
Maturity:Sept. 30, 2025
Coupon:12.5% per year, payable quarterly
Price:Par
Payout at maturity:Par if stock finishes at or above trigger level; otherwise, lose 1% for each 1% decline of stock from its initial level
Call:At par if the stock closes at or above initial level on any quarterly observation date starting after six months
Initial stock level:$48.91
Trigger level:$24.46; 50% of initial level
Pricing date:Sept. 28, 2022
Settlement date:Sept. 30, 2022
Selling agent:BMO Capital Markets Corp.
Fees:2.5%
Cusip:06374V6N1

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