New Issue: BMO sells $4.53 million autocallable barrier notes with contingent coupon on indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 31 – Bank of Montreal priced $4.53 million of autocallable barrier notes with contingent coupons due Dec. 24, 2024 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Every quarter, the notes will pay a coupon equal to 10% per year if each index’s closing level is at least 70% of the initial level on the observation date for that period.

The notes will be automatically redeemed at par plus the contingent coupon if each index closes above its initial level on any quarterly observation date beginning on June 21, 2021.

If the notes are not called, the payout at maturity will be par unless the final level of any index is less than 65% of the initial level, in which case investors will lose 1% for each 1% decline from the initial level of the least performing index.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupons
Underlying indexes:	Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
Amount:	$4,526,000
Maturity:	Dec. 24, 2024
Coupon:	10% per year, payable quarterly if each index’s closing level is at least 70% of the initial level on the observation date for that period
Price:	Par
Payout at maturity:	Par unless the final level of any index is less than trigger level, in which case investors will lose 1% for each 1% decline from the initial level of the least performing index
Call:	At par plus contingent coupon if indexes close at or above initial levels on any quarterly observation date beginning June 21, 2021
Initial levels:	30,216.45 for Dow, 12,690.266 for Nasdaq, 1,970.329 for Russell
Coupon barrier levels:	21,151.52 for Dow, 8,883.18 for Nasdaq, 1,379.23 for Russell; 70% of initial levels
Trigger levels:	19,640.69 for Dow, 8,248.67 for Nasdaq, 1,280.7144 for Russell; 65% of initial levels
Pricing date:	Dec. 21
Settlement date:	Dec. 24
Agent:	BMO Capital Markets Corp.
Fees:	0.5%
Cusip:	06368EB50

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