BMO to price autocallable cash-settled notes tied to two indexes

By Wendy Van Sickle

Columbus, Ohio, April 18 – Bank of Montreal plans to price 7% autocallable cash-settled notes with fixed interest payments due Aug. 3, 2020 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each index closes above 105% of its initial level on any monthly call date beginning Oct. 30.

The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 69% trigger level during the life of the notes, in which case investors be fully exposed to any losses of the least performing index.

BMO Capital Markets Corp. is the agent.

The notes will price on April 26.

The Cusip number is 06367WKJ1.

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