BMO plans autocallable cash-settled notes on Nasdaq, Russell

By Sarah Lizee

Olympia, Wash., Oct. 28 – Bank of Montreal plans to price autocallable cash-settled notes with conditional interest payments due Nov. 30, 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 monthly coupon at an annual rate of 9.3% if each index closes at or above its 70% 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 April 23, 2020.

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.

The notes will price on Oct. 30.

The Cusip number is 06367WQN6.

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