By Wendy Van Sickle
Columbus, Ohio, April 9 – Bank of Montreal priced $2.49 million of autocallable cash-settled notes with conditional interest payments due June 7, 2021 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a conditional monthly coupon at an annual rate of 21.3% if each asset closes at or above its 65% coupon barrier level on any observation date for that month.
The notes will be called at par plus the coupon if each asset closes above its initial level on any monthly call date beginning on April 1, 2021.
The payout at maturity will be par unless either asset finishes below its initial level and either asset ever closes below its 65% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing asset.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable cash-settled notes with conditional interest payments
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| Underlying assets: | Russell 2000 index, VanEck Vectors Gold Miners ETF
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| Amount: | $2,492,000
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| Maturity: | June 7, 2021
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| Coupon: | 21.3% payable monthly if each asset closes above coupon barrier on observation date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below its initial level and either asset ever closes below its trigger level during life of notes, in which case full exposure to any losses of lesser-performing asset
|
| Call: | At par if each asset closes above its initial level on any call date beginning on April 1, 2021
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| Initial levels: | $24.03 for ETF, 1,071.994 for Russell
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| Coupon barrier/triggers: | $15.62 for ETF, 696.796 for Russell; 65% of initial levels
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| Pricing date: | April 1
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| Settlement date: | April 6
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.25%
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| Cusip: | 06367WYV9
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