New Issue: BMO sells $1.51 million autocallable barrier notes with contingent coupon on indexes

By William Gullotti

Buffalo, N.Y., July 28 – Bank of Montreal priced $1.51 million of autocallable barrier notes with contingent coupons due April 27, 2026 linked to the Euro Stoxx 50 index, 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 quarterly coupon equal to 5.9% per year if each index’s closing level is at least 65% 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 above its initial level on any quarterly observation date after one year.

If the notes are not called, the payout at maturity will be par plus the final coupon if each index’s final level is greater than or equal to the coupon barrier.

If any index finishes below its coupon barrier, but each finish at or above the 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupons
Underlying indexes:	Euro Stoxx 50 index, Nasdaq-100 index, Russell 2000 index
Amount:	$1,511,000
Maturity:	April 27, 2026
Coupon:	5.9% per year, payable quarterly 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 plus the final coupon if all indexes finish above coupon barrier; if any index finishes below coupon barrier but all finish above trigger level, par; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
Call:	At par plus contingent coupon if indexes close above initial levels on any quarterly observation date after one year
Initial levels:	4,059.05 for Stoxx, 14,940.17 for Nasdaq, 2,199.475 for Russell
Coupon barrier levels:	2,638.38 for Stoxx, 9,711.11 for Nasdaq, 1,429.659 for Russell; 65% of initial levels
Trigger levels:	2,232.48 for Stoxx, 8,217.09 for Nasdaq, 1,209.711 for Russell; 55% of initial levels
Pricing date:	July 22
Settlement date:	July 27
Agent:	BMO Capital Markets Corp.
Fees:	0.5%
Cusip:	06368ETH5

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