New Issue: BMO prices $400,000 autocallable buffer enhanced return notes linked to ETF basket

By Kiku Steinfeld

Chicago, June 5 – Bank of Montreal priced $400,000 of 0% autocallable buffer enhanced return notes due July 31, 2024 linked to an equally-weighted basket consisting of the SPDR S&P Biotech ETF, the iShares Global Clean Energy ETF and the First Trust Nasdaq Cybersecurity ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically at par plus a 12% call premium if the basket closes at or above its initial level on Feb. 1, 2024.

The payout at maturity will be par plus 150% of any basket gain.

Investors will receive par if the basket falls by up to 15% and will lose 1% for each 1% that the level of the basket decreases by more than 15%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Autocallable buffer enhanced return notes
Underlying basket:	SPDR S&P Biotech ETF, iShares Global Clean Energy ETF and First Trust Nasdaq Cybersecurity ETF; equally-weighted
Amount:	$400,000
Maturity:	July 31, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any gain of the basket; par if the basket falls by up to 15%; otherwise, 1% loss for each 1% of basket decline below 15%
Call:	Automatically at par plus 12% if the basket closes at or above its initial level on Feb. 1, 2024
Initial basket level:	$88.59 for Biotech, $20.63 for Energy, $40.45 for Cybersecurity
Buffer level:	85% of initial basket level
Pricing date:	Jan. 26, 2023
Settlement date:	Jan. 31, 2023
Selling agent:	BMO Capital Markets Corp.
Fees:	1.5%
Cusip:	06374VJV9

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