New Issue: BMO sells $1.95 million autocallable barrier notes with contingent coupons on indexes

By William Gullotti

Buffalo, N.Y., May 24 – Bank of Montreal priced $1.95 million of autocallable barrier notes with contingent coupons due May 26, 2026 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon equal to 12% per year if each index’s closing level is at least 70% of its initial level on the corresponding observation date.

The notes will be automatically redeemed at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after six months.

If the notes are not called and each index finishes at or above its 70% coupon barrier level, the payout at maturity will be par plus the final coupon

If the worst performer finishes below its coupon barrier but at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupons
Underlying indexes:	S&P 500 index, Nasdaq-100 index, Russell 2000 index
Amount:	$1.95 million
Maturity:	May 26, 2026
Coupon:	12% per year, payable monthly if each index’s closing level is at or above its coupon barrier level on the relevant observation date
Price:	Par
Payout at maturity:	Par plus the final coupon if all indexes finish at or above coupon barrier; if worst performer finishes below its coupon barrier but at or above trigger level, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
Call:	At par plus contingent coupon if indexes close at or above initial levels on any quarterly observation date after six months
Initial levels:	3,900.79 for S&P, 11,875.63 for Nasdaq, 1,776.223 for Russell
Coupon barrier levels:	2,730.55 for S&P, 8,312.94 for Nasdaq, 1,243.356 for Russell; 70% of initial levels
Trigger levels:	2,340.47 for S&P, 7,125.38 for Nasdaq, 1,065.734 for Russell; 60% of initial levels
Pricing date:	May 19
Settlement date:	May 24
Agent:	BMO Capital Markets Corp.
Fees:	0.6%
Cusip:	06368GTX5

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