Published on 2/15/2018 in the Prospect News Structured Products Daily.
New Issue: BMO prices $250,000 autocallable cash-settled notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 15 – Bank of Montreal priced $250,000 of autocallable cash-settled notes with conditional interest payments due Feb. 14, 2020 linked to the least performing of the S&P 500 index, Euro Stoxx 50 index, and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually at an annual rate of 6.8% if each asset closes above its 60% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes above its initial level on any review date after six months.
The payout at maturity will be par unless any asset finishes below its 60% trigger level, in which case investors be fully exposed to any losses of the least performing asset.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable cash-settled notes with conditional interest payments
|
| Underlying assets: | S&P 500 index, Euro Stoxx 50 index, Russell 2000 index
|
| Amount: | $250,000
|
| Maturity: | Feb. 14, 2020
|
| Coupon: | 6.8%, payable semiannually if each index closes above coupon barrier on observation date for that period
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any index finishes below its trigger level, in which case investors will be fully exposed to any losses of the least performing asset
|
| Call: | At par plus the coupon if each asset finishes above its initial level on any review date
|
| Initial levels: | 2,619.55 for S&P, 3,325.99 for Stoxx, 1,477.836 for Russell
|
| Barrier/triggerlevels: | 1,571.73 for S&P, 1,995.59 for Stoxx, 886.702 for Russell; 60% of initial levels
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 14
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.75%
|
| Cusip: | 06367T2S8
|
|
|
© 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.
