New Issue: BMO sells $600,000 autocallable barrier notes on S&P 500

By Kiku Steinfeld

Chicago, Nov. 4 – Bank of Montreal priced $600,000 autocallable barrier notes due March 15, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically redeemed at par 10.8% per year if the index closes at or above its initial level on any annual observation date.

If the notes are not called and the index finishes at or above 60% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes
Underlying index:	S&P 500 index
Amount:	$600,000
Maturity:	March 15, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par if index finishes at or above trigger level; otherwise, lose 1% for each 1% decline of index from its initial level
Call:	At par plus 10.8% per year if the index closes at or above initial level on any annual observation date
Initial level:	4,277.88
Coupon barrier:	2,566.728; 60% of initial level
Trigger level:	2,566.728; 60% of initial level
Pricing date:	March 9
Settlement date:	March 14
Agent:	BMO Capital Markets Corp.
Fees:	0.3375%
Cusip:	89114V7F8

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