New Issue: BMO sells $18.48 million callable barrier notes on S&P, Russell, Nasdaq

By Wendy Van Sickle

Columbus, Ohio, Jan. 20 – Bank of Montreal priced $18.48 million of 8.45% callable barrier notes due Jan. 20, 2023 linked to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be callable on any monthly observation date starting July 15, 2022.

If the notes are not called, the payout at maturity will be par if each index finishes at or above its 70% trigger level. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Callable barrier notes
Underlying indexes:	S&P 500 index, Russell 2000 index, Nasdaq-100 index
Amount:	$18,478,000
Maturity:	Jan. 20, 2023
Coupon:	8.45% per year, payable monthly
Price:	Par
Payout at maturity:	If all indexes finish at or above trigger level, par; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
Call option:	At par on any monthly observation date starting July 15, 2022
Initial levels:	4,662.85 for S&P, 2,162.456 for Russell, 15,611.59 for Nasdaq
Trigger levels:	3,264. for S&P, 1,513.719 for Russell, 10,928.11 for Nasdaq; 70% of initial levels
Pricing date:	Jan. 14
Settlement date:	Jan. 20
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06368GE45

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.