BMO to settle autocallable barrier notes with contingent coupons on indexes, gold ETF

By Emma Trincal

New York, Jan. 21 – Bank of Montreal will settle autocallable barrier notes with contingent coupons due April 26, 2022 linked to the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Every month, the notes will pay a coupon equal to 14% per year if each underlying’s closing level is at least 65% of the initial level on the observation date for that period.

The notes will be automatically redeemed at par plus the contingent coupon if each underlying closes above its initial level on any quarterly observation date after six months.

If the notes are not called, the payout at maturity will be par unless the final level of any underlying is less than 60% of the initial level, in which case investors will lose 1% for each 1% decline from the initial level of the least performing underlying.

BMO Capital Markets Corp. is the agent.

The Cusip number is 06368EDD1.

The notes were expected to price on Jan. 21 and will settle on Jan. 26.

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