By William Gullotti
Buffalo, N.Y., Sept. 22 – Bank of Montreal priced $1.72 million of market-linked securities – autocallable with contingent coupon and contingent downside due Sept. 24, 2026 linked to the stock performance of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.75% if the stock closes at or above its 65% coupon threshold on the observation date for that period.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called and the stock’s final level is greater than or equal to its 65% downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the stock from its initial level.
Wells Fargo Securities, LLC is the agent.
Issuer: | Bank of Montreal
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Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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Underlying stock: | Meta Platforms, Inc.
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Amount: | $1,717,000
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Maturity: | Sept. 24, 2026
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Coupon: | 14.75% annualized, payable quarterly if the stock closes at or above coupon threshold on observation date for that period
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Price: | Par
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Payout at maturity: | If the stock finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for every 1% decline of stock from initial level
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Call: | At par plus coupon if the stock closes at or above its initial level on any quarterly observation date after six months
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Initial level: | $305.07
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Coupon threshold: | $198.2955; 65% of initial level
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Downside threshold: | $198.2955; 65% of initial level
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Pricing date: | Sept. 19
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Settlement date: | Sept. 22
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.175%
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Cusip: | 06375MAY1
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