Published on 11/7/2018 in the Prospect News Structured Products Daily.
New Issue: BMO sells $761,000 autocallable cash-settled notes tied to two indexes
By Sarah Lizee
Olympia, Wash., Nov. 7 – Bank of Montreal priced $761,000 of autocallable cash-settled notes with conditional interest payments due May 8, 2020 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 quarterly coupon at an annual rate of 7.2% if each index closes at or above its 70% coupon barrier level on any observation date for that quarter.
The notes will be called at par if each index closes above its initial level on any call date beginning on May 3, 2019.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% 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: | Russell 2000, Nasdaq-100
|
| Amount: | $761,000
|
| Maturity: | May 8, 2020
|
| Coupon: | 7.2%, payable quarterly if each index closes above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| 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 if each index closes above its initial level on any call date beginning on May 3, 2019
|
| Initial levels: | 6,937.089 for Nasdaq-100, 1,547.512 for Russell
|
| Coupon barrier/triggers: | 4,855.96 for Nasdaq-100, 1,083.258 for Russell; 70% of initial levels
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 8
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 2.4%
|
| Cusip: | 06367WEB5
|
© 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.
