By William Gullotti
Buffalo, N.Y., Oct. 17 – Bank of Montreal upsized the issuance of its 0% autocallable market-linked notes due April 14, 2025 linked to the performance of the S&P 500 index to $1.35 million on Oct. 14, according to a 424B2 filing with the Securities and Exchange Commission.
The initial issue size, priced Oct. 7, was $1,334,000. The upsizing did not affect any other terms of the initial issue.
The notes will be automatically called at par plus a 5.5% call premium if the index closes at or above its initial level on Oct. 13, 2023.
The payout at maturity will be par plus any index gain. Otherwise, investors will receive par.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable market-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,348,000
|
| Maturity: | April 14, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain; otherwise, par
|
| Call: | Automatically at par plus a 5.5% call premium if the index closes at or above initial level on Oct. 13, 2023
|
| Initial index level: | 3,639.66
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 12
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.5%
|
| Cusip: | 06374V7J9
|
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