BMO plans cash-settled autocallables with conditional coupon on indexes

By Marisa Wong

Morgantown, W.Va., Feb. 7 – Bank of Montreal plans to price autocallable cash-settled notes with conditional interest payments due Feb. 13, 2023 linked to the least performing of the S&P 500 index, Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 8.2% if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date.

After six months, the notes will be automatically called at par if each underlying index closes at or above its initial level on any quarterly review date.

The payout at maturity will be par unless any underlying index finishes below its 65% trigger level, 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. 8.

The Cusip number is 06367T2Q2.

© 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.