Published on 12/5/2023 in the Prospect News Structured Products Daily.
New Issue: BMO prices $880,000 autocallable barrier enhanced return notes linked to Russell
By Kiku Steinfeld
Chicago, Dec. 5 – Bank of Montreal priced $880,000 of 0% autocallable barrier enhanced return notes due April 27, 2026 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 10.7% call premium if the index closes at or above its initial level on April 26, 2024.
The payout at maturity will be par plus 150% of any index gain.
Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% of index decline if it falls by more than 30%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable barrier enhanced return notes
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| Underlying index: | Russell 2000 index
|
| Amount: | $880,000
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| Maturity: | April 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any gain of the index; par if the index falls by up to 30%; otherwise, full exposure to index decline from initial level
|
| Call: | Automatically at par plus a 10.7% call premium if the index closes at or above its initial level on April 26, 2024
|
| Initial index level: | 1,791.506
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| Barrier level: | 1,254.054; 70% of initial level
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 3.2%
|
| Cusip: | 06374VT71
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