BMO to price autocallable cash-settled notes tied to S&P, Stoxx 50

By Sarah Lizee

Olympia, Wash., Oct. 3 – Bank of Montreal plans to price autocallable cash-settled notes with conditional interest payments due Nov. 12, 2019 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a conditional monthly coupon at an annual rate of 7.32% if each index closes at or above its 75% coupon barrier level on any observation date for that month.

The notes will be called at par if each index closes above its initial level on any call date beginning on April 9, 2019.

The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 75% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing index.

BMO Capital Markets Corp. is the agent.

The notes will price on Oct. 5.

The Cusip number is 06367WDB6.

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