By William Gullotti
Buffalo, N.Y., March 26 – Bank of Montreal priced $1.4 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due March 20, 2029 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be automatically called at par plus an 8.57% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes at or above its initial level, the payout at maturity will be par plus 42.85%.
If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
|
| Underlying: | Russell 2000 index
|
| Amount: | $1,398,000
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| Maturity: | March 20, 2029
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above initial level, par plus 42.85%; par if index falls by no more than 10%; otherwise, 1% loss for every 1% decline of index beyond 10%
|
| Call: | Automatically at par plus an 8.57% annualized call premium if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 2,039.322
|
| Trigger level: | 1,835.3898; 90% of initial level
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 2.825%
|
| Cusip: | 06376A2L3
|
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