Chicago, April 27 – Bank of Montreal priced $100,000 of callable barrier notes with contingent coupons due May 29, 2026 linked to an equally-weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Russell 2000 index and the Nasdaq-100 index.
The notes will pay a monthly coupon equal to 9% per year if the basket’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any monthly coupon payment date starting after three months.
If the notes are not called and the basket finishes at or above its 60% trigger level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be exposed to the losses of the basket.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Callable barrier notes with contingent coupons
|
| Underlying basket: | Russell 2000 index and Nasdaq-100 index.; equal weights
|
| Amount: | $100,000
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| Maturity: | May 29, 2026
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| Coupon: | 9% per year, payable monthly if the basket’s closing level is at or above its coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if basket finishes at or above trigger level; otherwise, full exposure to losses of bask
|
| Call: | At par on any monthly coupon payment date starting after three months
|
| Initial levels: | 1,838.238 for Russell, 12,276.79 for Nasdaq
|
| Coupon barrier level: | 70% of initial level
|
| Trigger level: | 60% of initial level
|
| Pricing date: | May 26, 2022
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| Settlement date: | May 31, 2022
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| Agent: | BMO Capital Markets Corp.
|
| Fees: | 2%
|
| Cusip: | 06368GTN7
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