New Issue: Bank of Montreal prices $725,000 autocallable notes linked to Meta Platforms

By Angela McDaniels

Tacoma, Wash., Sept. 26 – Bank of Montreal priced $725,000 of 14.25% autocallable notes due Oct. 31, 2023 linked to the class A common stock of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

Beginning on March 28, 2023, the notes will be called automatically at par if the stock closes at or above its initial share price on any monthly observation date.

If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below 65% of its initial price, in which case investors will receive a number of Meta shares equal to $1,000 divided by the stock’s initial share price or, at the issuer’s option, the cash equivalent.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable notes
Underlying stock:	Meta Platforms, Inc.
Amount:	$725,000
Maturity:	Oct. 31, 2023
Coupon:	14.25% per year, payable monthly
Price:	Par
Payout at maturity:	Par plus final coupon unless stock finishes below trigger level, in which case a number of Meta shares equal to $1,000 divided by initial share price or, at issuer’s option, cash equivalent
Call:	Beginning March 28, 2023, automatically at par if stock closes at or above initial share price on any monthly observation date
Initial share price:	$140.41
Trigger level:	$91.27, or 65% of initial share price
Pricing date:	Sept. 23, 2022
Settlement date:	Sept. 28, 2022
Agent:	BMO Capital Markets Corp.
Fees:	2.15%
Cusip:	06369NDH1

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