By Wendy Van Sickle
Columbus, Ohio, Sept. 19 – Bank of Montreal priced $1.56 million of 13.7% autocallable barrier notes due Oct. 7, 2024 linked to the common stock of Albemarle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus the coupon if the stock closes at or above its initial price on any monthly observation date starting after six months.
If the notes are not called and the stock finishes at or above its 69% trigger price, the payout at maturity will be par plus the final coupon, if any.
Otherwise, investors will lose 1% for each 1% decline of the stock from its initial price.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable barrier notes
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| Underlying stock: | Albemarle Corp.
|
| Amount: | $1,557,000
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| Maturity: | Oct. 7, 2024
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| Coupon: | 13.7% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the stock finishes at or above trigger price, par plus final coupon, if any; otherwise, investors will lose 1% for each 1% decline of stock from initial price
|
| Call: | At par plus coupon if the stock closes at or above initial price on any monthly observation date starting after six months
|
| Initial price: | $198.71
|
| Trigger price: | $137.11; 69% of initial price
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Agent: | BMO Capital Markets Corp.
|
| Fees: | 2.15%
|
| Cusip: | 06375MA88
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