New Issue: BMO sells $500,000 callable barrier notes with contingent coupon on Zoom Video

By Kiku Steinfeld

Chicago, July 13 – Bank of Montreal priced $500,000 of callable barrier notes with a contingent coupons due Jan. 2, 2024 linked to the common stock of Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon equal to 13.75% per year if the stock closes above its coupon barrier level, 50% of its initial price, on the relevant observation date.

The notes will be callable at par on any quarterly observation date.

If the notes are not called, the payout at maturity will be par plus the final coupon unless the final price of the stock is less than 50% of its initial price, in which case investors will lose 1% for each 1% decline of the stock from its initial price.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Callable barrier notes with contingent coupon
Underlying stock:	Zoom Video Communications, Inc.
Amount:	$500,000
Maturity:	Jan. 2, 2024
Coupon:	13.75% per year, payable quarterly if stock closes above coupon barrier level on related observation date
Price:	Par
Payout at maturity:	Par plus final coupon unless final price of stock is less than trigger price, in which case investors will lose 1% for each 1% decline of stock from its initial price
Call option:	At par on any quarterly observation date
Initial price:	$187.44
Coupon barrier price:	$93.72, 50% of initial price
Trigger price:	$93.72, 50% of initial price
Pricing date:	Dec. 27, 2021
Settlement date:	Dec. 30, 2021
Agent:	BMO Capital Markets Corp.
Fees:	1%
Cusip:	06368GCN5

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