Published on 9/22/2021 in the Prospect News Structured Products Daily.
New Issue: BMO sells $5.25 million callable barrier notes with contingent coupon on three indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – Bank of Montreal priced $5.25 million of callable barrier notes with contingent coupons due Sept. 20, 2022 linked to the Euro Stoxx 50 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon equal to 8% per year if each index’s closing level is at least 60% of its initial level on the relevant observation date starting Dec. 15.
The notes will be callable on any monthly observation date.
If the notes are not called, the payout at maturity will be par plus any final coupon due unless any index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline based on the final level from the initial level of the least-performing index.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
|
Issue: | Callable barrier notes with contingent coupons
|
Underlying indexes: | Euro Stoxx 50 index, Nasdaq-100 index, Russell 2000 index
|
Amount: | $5.25 million
|
Maturity: | Sept. 20, 2022
|
Coupon: | 8% per year, payable monthly if each index’s closing level is at or above its coupon barrier level on the relevant observation date
|
Price: | Par
|
Payout at maturity: | Par plus any final coupon otherwise due unless any index finishes below its trigger level, in which case investors will lose 1% for each 1% decline from the initial level of the least-performing index
|
Call option: | At par plus any coupon due on any monthly observation date starting Dec. 15
|
Initial levels: | 4,145.94 for Stoxx, | 15,503.53 | for Nasdaq, 2,234.448 for Russell
|
Coupon barrier levels: | 2,487.56 for Stoxx, 9,302.12 for Nasdaq. 1,340.669 for Russell; 60% of initial levels
|
Trigger levels: | 2,487.56 for Stoxx, 9,302.12 for Nasdaq. 1,340.669 for Russell; 60% of initial levels
|
Pricing date: | Sept. 15
|
Settlement date: | Sept. 20
|
Agent: | BMO Capital Markets Corp.
|
Fees: | 0%
|
Cusip: | 06368EX72
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.