Published on 2/21/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.59 million autocallable barrier enhanced return notes on three indexes
By William Gullotti
Buffalo, N.Y., Feb. 21 – Bank of Montreal priced $1.59 million of 0% autocallable barrier enhanced return notes due Feb. 16, 2027 linked to the performance of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 16.76% call premium if each index closes at or above its initial level on Feb. 18, 2025.
The payout at maturity will be par plus 150% of any gain in the least performing index.
Investors will receive par if the worst performer falls by up to 30% and will lose 1% for each 1% decline of the worst performer 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 indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $1,588,000
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| Maturity: | Feb. 16, 2027
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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 in least performing index index; par if worst performer falls by up to 30%; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus a 16.76% call premium if each index closes at or above its initial level on Feb. 18, 2025
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| Initial levels: | 4,953.17 for S&P, 1,964.174 for Russell, 38,272.75 for Dow
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| Barrier levels: | 3,467.22 for S&P, 1,374.922 for Russell, 26,790.93 for Dow; 70% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Selling agent: | BMO Capital Markets Corp.
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| Fees: | 0.5%
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| Cusip: | 06375MWE1
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