By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – Bank of Montreal priced $430,000 of 8% autocallable cash-settled notes with fixed interest payments due Oct. 28, 2019 linked to the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the fund closes above its 105% call level on any monthly review date after six months.
The payout at maturity will be par unless the fund finishes below its initial level and ever closes below its 71.5% trigger level during the life of the notes, in which case investors be fully exposed to any losses.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable cash-settled notes with fixed interest payments
|
| Underlying ETF: | SPDR S&P Metals & Mining ETF
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| Amount: | $430,000
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| Maturity: | Oct. 28, 2019
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| Coupon: | 8%, payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless the fund finishes below its initial level and ever closes below the trigger level during the life of the notes, in which case investors will be fully exposed to any losses
|
| Call: | At par plus the coupon if the fund finishes above the 105% call level on any monthly call date after six months
|
| Initial price: | $34.88
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| Trigger price: | $24.94, 71.5% of initial price
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agent: | BMO Capital Markets Corp.
|
| Fees: | 2.15%
|
| Cusip: | 06367WCH4
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