Published on 4/5/2021 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.72 million autocallable barrier notes on ETF, indexes
Chicago, April 5 – Bank of Montreal priced $1.72 million of autocallable barrier notes with contingent coupons due March 19, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index, and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 9% if each asset closes at or above its 63% coupon barrier level on the applicable monthly observation date.
The notes will be called at par if each asset closes above its initial level on any quarterly review date beginning Sept. 15.
The payout at maturity will be par unless any asset finishes below its 63% trigger level, 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
|
| Issue: | Autocallable barrier notes with contingent coupons
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index, and iShares MSCI EAFE exchange-traded fund
|
| Amount: | $1,720,000
|
| Maturity: | March 19, 2024
|
| Coupon: | 9% per year, payable each month that each asset closes at or above its coupon barrier on observation date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any asset finishes below its trigger level, in which case investors will be fully exposed to the losses of the least performing asset
|
| Call: | At par plus the coupon if each asset finishes above its initial level on any quarterly call date beginning Sept. 15
|
| Initial levels: | 13,152.28 for Nasdaq, 2,319.518 for Russell, $76.47 for EAFE ETF
|
| Coupon barriers: | 8,285.94 for Nasdaq, 1,461.296 for Russell, $48.18 for EAFE ETF; 63% of initial levels
|
| Trigger levels: | 8,285.94 for Nasdaq, 1,461.296 for Russell, $48.18 for EAFE ETF; 63% of initial levels
|
| Pricing date: | March 16
|
| Settlement date: | March 19
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.1%
|
| Cusip: | 06368EH39
|
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