BMO plans to issue autocallable barrier notes on ETF, indexes

New York, April 8 – Bank of Montreal plans to price autocallable barrier notes with contingent coupons due July 11, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index, and the VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 11% if each asset closes at or above its 65% 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 monthly observation date beginning Oct. 7.

The payout at maturity will be par unless any asset finishes below its 60% trigger level at any point during the life of the notes, in which case investors be fully exposed to any losses of the least performing asset unless all underliers close above their initial levels in which case the payout will also be par.

BMO Capital Markets Corp. is the agent.

The notes priced on April 6 and will settle on April 9.

The Cusip number is 06368EJ86.

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