New Issue: BMO sells $941,000 autocallable barrier notes with memory coupons on three indexes

Chicago, Dec. 14 – Bank of Montreal priced $941,000 of autocallable barrier notes with memory coupons due April 8, 2024 linked to the least performing of the S&P 500 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 monthly coupon equal to 7% per year if each index’s closing level is at least 70% of its initial level on the corresponding observation date. Previously unpaid coupons will also be paid.

The notes will be automatically redeemed at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after six months.

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 plus any coupons due. 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 memory coupons
Underlying indexes:	S&P 500 index, Nasdaq-100 index, Russell 2000 index
Amount:	$941,000
Maturity:	April 8, 2024
Coupon:	7% per year, payable monthly if each index’s closing level is at or above its coupon barrier level on the relevant observation date; previously unpaid coupons will also be paid
Price:	Par
Payout at maturity:	Par plus any final coupon if all indexes finish at or above trigger level; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
Call:	At par plus contingent coupon(s) due if indexes close at or above initial levels on any quarterly observation date after six months
Initial levels:	4,019.87 for S&P, 13,329.51 for Nasdaq, 2,253.903 for Russell
Coupon barrier levels:	2,813.91 for S&P, 9,330.66 for Nasdaq, 1,577.732 for Russell; 70% of initial levels
Trigger levels:	2,411.92 for S&P, 7,997.71 for Nasdaq, 1,352.342 for Russell; 60% of initial levels
Pricing date:	April 1
Settlement date:	April 6
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06368EHM7

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