By Wendy Van Sickle
Columbus, Ohio, April 21 – Bank of Montreal priced $1 million of autocallable cash-settled notes with contingent interest payments due July 22, 2021 linked to the least performing of the Russell 2000 index and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 22.25% if each asset closes at or above its 65% coupon barrier on the related monthly observation date.
The notes will be called at par if each asset closes at or above its initial level on any monthly review date beginning Oct. 19.
The payout at maturity will be par unless any asset finishes below its initial level and any asset ever closes below its 65% trigger level on any day during the life of the notes, in which case investors be fully exposed to any losses of the least performing asset.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable cash-settled notes with contingent interest payments
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| Underlying assets: | Russell 2000 index, VanEck Vectors Gold Miners ETF
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| Amount: | $1 million
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| Maturity: | July 22, 2021
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| Coupon: | 22.25%, payable each month that each asset closes at or above coupon barrier on observation date for that month
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any asset finishes below its initial level and ever closes below the trigger level during the life of the notes, in which case full exposure to any losses of the least performing asset
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| Call: | At par if each asset closes at or above its initial level on any monthly call date beginning Oct. 19
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| Initial levels: | 1,229.098 for Russell, $29.94 for gold ETF
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| Coupon barriers: | 798.914 for Russell, $19.46 for gold ETF; 65% of initial levels
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| Trigger levels: | 798.914 for Russell, $19.46 for gold ETF; 65% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 0.25%
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| Cusip: | 06367WZS5
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