Chicago, June 21 – Bank of Montreal priced $500,000 of 0% autocallable barrier enhanced return notes due June 5, 2026 linked to the performance of the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 21.75% call premium if the ETF closes at or above its initial level on June 5, 2024.
The payout at maturity will be par plus 300% of any ETF gain.
Investors will receive par if the ETF falls by up to 30% and will lose 1% for each 1% of ETF decline if it falls by more than 30%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable barrier enhanced return notes
|
| Underlying ETF: | SPDR S&P Regional Banking ETF
|
| Amount: | $500,000
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| Maturity: | June 5, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any gain of the ETF; par if the ETF falls by up to 30%; otherwise, full exposure to ETF decline from initial level
|
| Call: | Automatically at par plus a 21.75% call premium if the ETF closes at or above its initial level on June 5, 2024
|
| Initial level: | $38.97
|
| Barrier level: | $27.28; 70% of initial level
|
| Pricing date: | May 31
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| Settlement date: | June 5
|
| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 0.5%
|
| Cusip: | 06374VVP8
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