New Issue: BMO sells $1.43 million autocallable barrier notes with contingent coupons on two indexes

By Kiku Steinfeld

Chicago, Dec. 2 – Bank of Montreal priced $1.43 million of autocallable barrier notes with contingent coupons due June 30, 2023 linked to 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 8% 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 monthly observation date after six months

If the notes have not been called, the payout at maturity will be par unless either index closes below its 70% downside threshold during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupons
Underlying indexes:	Nasdaq-100 index, Russell 2000 index
Amount:	$1,430,000
Maturity:	June 30, 2023
Coupon:	8% 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 unless either index closes below its downside threshold during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level
Call:	At par plus contingent coupon if indexes close at or above initial levels on any monthly observation date after six months
Initial levels:	14,987.40 for Nasdaq, 2,078.060 for Russell
Coupon barrier levels:	10,491.18 for Nasdaq, 1,454.642 for Russell; 70% of initial levels
Trigger levels:	10,491.18 for Nasdaq, 1,454.642 for Russell; 70% of initial levels
Pricing date:	March 28
Settlement date:	March 31
Agent:	BMO Capital Markets Corp.
Fees:	2.25%
Cusip:	06368GLJ4

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