New Issue: BMO prices $3.75 million cash-settled 7.57% autocalls tied to Stoxx, S&P

By Wendy Van Sickle

Columbus, Ohio, March 12 – Bank of Montreal priced $3.75 million of 7.57% autocallable cash-settled notes with fixed interest payments due Sept. 7, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each index closes at or above 95% of its initial level on any monthly call date starting Dec. 2, 2020.

The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors be fully exposed to any losses of the worse performing index.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable cash-settled notes with fixed interest payments
Underlying indexes:	Euro Stoxx 50 index, S&P 500 index
Amount:	$3.75 million
Maturity:	Sept. 7, 2021
Coupon:	7.57% payable monthly
Price:	Par
Payout at maturity:	Par unless either index finishes below trigger level, in which case investors will be fully exposed to any losses of worse performing index
Call:	At par plus coupon if each asset closes at or above 95% of initial level on any monthly call date starting Dec. 2, 2020
Initial levels:	3,338.83 for Stoxx, 3,090.23 for S&P
Trigger:	2,337.18 for Stoxx, 2,163.16 for S&P, 70% of initial levels
Pricing date:	March 2
Settlement date:	March 5
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06367WXV0

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