Published on 1/14/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $500,000 autocallable cash-settled notes on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Jan. 14 – Bank of Montreal priced $500,000 of autocallable cash-settled notes with contingent interest payments due Oct. 15, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
An annualized coupon of 8.55% will be paid if each underlying closes above its 65% coupon barrier level on any monthly valuation date.
The notes will be called at par plus the interest payment due if each underlying closes above its initial level on any quarterly call date beginning April 9.
The payout at maturity will be par unless any underlying finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the least performing underlying.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable cash-settled notes with contingent interest payments
|
| Underlying assets: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $500,000
|
| Maturity: | Oct. 15, 2020
|
| Coupon: | 8.55%, payable monthly if each underlying closes above coupon barrier level on valuation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying finishes below trigger level, in which case investors will be fully exposed to any losses of the least-performing asset
|
| Call: | At par if each asset closes above initial level on any quarterly call date beginning April 9
|
| Initial levels: | 3,265.35 for S&P, 1,657.643 for Russell, 8,966.637 for Nasdaq
|
| Coupon barriers: | 2,122.48 for S&P, 1,077.468 for Russell, 5,828.314 for Nasdaq, 65% of initial levels
|
| Trigger levels: | 2,122.48 for S&P, 1,077.468 for Russell, 5,828.314 for Nasdaq, 65% of initial levels
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 15
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.15%
|
| Cusip: | 06367WUS0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
