Published on 12/6/2018 in the Prospect News Structured Products Daily.
New Issue: BMO sells $4.14 million autocallable cash-settled notes on two indexes
By Sarah Lizee
Olympia, Wash., Dec. 6 – Bank of Montreal priced $4.14 million of autocallable cash-settled notes with conditional interest payments due Nov. 29, 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 11.1% 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 May 23, 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: | Russell 2000, Nasdaq-100
|
| Amount: | $4,139,000
|
| Maturity: | Nov. 29, 2019
|
| Coupon: | 11.1%, payable monthly if each index closes above coupon barrier on observation date for that month
|
| 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 23, 2019
|
| Initial levels: | 6,701.036 for Nasdaq-100, 1,492.855 for Russell
|
| Coupon barrier/triggers: | 5,025.777 for Nasdaq-100, 1,119.641 for Russell; 75% of initial levels
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.6%
|
| Cusip: | 06367WEG4
|
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