BMO plans contingent interest cash-settled autocallables on two indexes

By Susanna Moon

Chicago, Feb. 3 – Bank of Montreal plans to price autocallable cash-settled notes with conditional interest payments due Feb. 28, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a conditional monthly coupon at an annual rate of 6% if each index closes at or above its 65% coupon barrier level on any observation date for that month.

The notes will be called at par if each index closes above its initial level on any call date beginning on Sept. 26, 2017.

The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 65% trigger level during the life of the notes, in which case investors be fully exposed to any losses of the worse performing index.

BMO Capital Markets Corp. is the agent.

The notes will price on Feb. 23 and settle on Feb. 28.

The Cusip number is 06367TST8.

© 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.