By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – Bank of Montreal priced $1.35 million of autocallable cash-settled notes with conditional interest payments due Sept. 30, 2019 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a conditional monthly coupon at an annual rate of 8.4% if each index closes at or above its 75% 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 March 22, 2019.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 75% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing index.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable cash-settled notes with conditional interest payments
|
| Underlying indexes: | Nasdaq-100 and Russell 2000
|
| Amount: | $1,349,000
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| Maturity: | Sept. 30, 2019
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| Coupon: | 8.4%, payable monthly, if each index closes above coupon barrier on observation date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below its trigger level during life of notes, in which full exposure to any losses of lesser-performing index
|
| Call: | At par plus the coupon if both indexes close above their initial levels on any monthly call date after six months
|
| Initial levels: | 7,563.194 for Nasdaq and 1,708.805 for Russell 2000
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| Coupon barrier/triggers: | 75% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.6%
|
| Cusip: | 06367WBR3
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