Published on 4/24/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.37 million autocallable barrier enhanced return notes on S&P, Nasdaq
By William Gullotti
Buffalo, N.Y., April 24 – Bank of Montreal priced $1.37 million of 0% autocallable barrier enhanced return notes due April 15, 2026 linked to the performance of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 14.5% call premium if each index closes at or above its initial level on April 15, 2025.
The payout at maturity will be par plus 200% of any gain in the least performing index.
Investors will receive par if the worst performer falls by up to 20% and will lose 1% for each 1% decline of the worst performer if it falls by more than 20%.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Autocallable barrier enhanced return notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index
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Amount: | $1,369,000
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Maturity: | April 15, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any gain in least performing index; par if worst performer falls by up to 20%; otherwise, full exposure to decline of worst performer from initial level
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Call: | Automatically at par plus a 14.5% call premium if each index closes at or above its initial level on April 15, 2025
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Initial levels: | 5,160.64 for S&P, 18,011.65 for Nasdaq
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Barrier levels: | 4,128.51 for S&P, 14,409.32 for Nasdaq; 80% of initial levels
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Pricing date: | April 10
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Settlement date: | April 15
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 0.8%
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Cusip: | 06376AC24
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