New Issue: BMO prices $82,000 autocallable barrier notes on Nasdaq, S&P

By Wendy Van Sickle

Columbus, Ohio, Nov. 4 – Bank of Montreal priced $82,000 of 5.5% autocallable barrier notes due Jan. 31, 2022 linked to the S&P 500 index and the Nasdaq 100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be automatically redeemed at par plus the contingent coupon if each index closes above its initial level on any observation date beginning April 27, 2021.

If the notes are not called, the payout at maturity will be par unless the final level of either index is less than 70% of the initial level, in which case investors will lose 1% for each 1% decline of the least performing index from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes
Underlying indexes:	S&P 500 index and Nasdaq 100 index
Amount:	$82,000
Maturity:	Jan. 31, 2022
Coupon:	5.5% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless either index finishes below trigger level, in which case 1% loss for each 1% decline from the initial level of the least performing index
Call:	At par plus contingent coupon if each index closes above its initial level on any monthly observation date beginning April 27, 2021
Initial levels:	3,390.68 for S&P, 11,598.95 for Nasdaq
Trigger levels:	2,373.48 for S&P, 8,119.27 for Nasdaq, 70% of initial levels
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	BMO Capital Markets Corp.
Fees:	2.25%
Cusip:	06368E2G6

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