New Issue: BMO prices $3.33 million 5.75% autocallable buffer notes on Nasdaq, Russell

By William Gullotti

Buffalo, N.Y., Nov. 8 – Bank of Montreal priced $3.33 million of 5.75% autocallable buffer notes due May 4, 2023 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest is paid semiannually.

The notes will be automatically called at par if the least performing index closes at or above its initial index level on any semiannual observation date.

If the notes are not called and the least performing index return is above 80% of its initial level, the payout at maturity will be par. Investors will lose 1.25% for each 1% loss beyond the 20% buffer.

BMO Capital Markets Corp. is the underwriter.

Issuer:	Bank of Montreal
Issue:	Autocallable buffer notes
Underlying indexes:	Nasdaq-100 index, Russell 2000 index
Amount:	$3,332,000
Maturity:	May 4, 2023
Coupon:	5.75% annual rate, payable semiannually
Price:	Par
Payout at maturity:	If the notes are not called and each index finishes above 80% of its initial level, par; 1.25% loss for each 1% loss beyond 20% buffer
Call:	Automatically at par if all indexes close at or above their initial level on any semiannual observation date
Initial levels:	2,358.121 for Russell, 15,905.28 for Nasdaq
Coupon/buffer levels:	1,886.497 for Russell, 12,724.22 for Nasdaq; 80% of initial levels
Pricing date:	Nov. 1
Settlement date:	Nov. 4
Agent:	BMO Capital Markets Corp.
Fees:	0.15%
Cusip:	06368G3V7

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