Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $4.39 million autocallable barrier enhanced return notes linked to S&P
By Kiku Steinfeld
Chicago, April 26 – Bank of Montreal priced $4.39 million of 0% autocallable barrier enhanced return notes due Aug. 3, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 10.2% call premium if the index closes at or above its initial level on Aug. 5, 2024.
The payout at maturity will be par plus 150% of any index gain.
Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% of index decline if it falls by more than 30%.
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 index: | S&P 500 index
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Amount: | $4,386,000
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Maturity: | Aug. 3, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any gain of the index; par if the index falls by up to 30%; otherwise, full exposure to index decline from initial level
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Call: | Automatically at par plus 10.2% call premium if the index closes at or above its initial level on Aug. 5, 2024
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Initial index level: | 4,588.96
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Barrier level: | 3,212.27; 70% of initial level
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Pricing date: | July 31, 2023
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Settlement date: | Aug. 3, 2023
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 1.1913%
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Cusip: | 06374VYQ3
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