New Issue: BMO prices $865,000 autocallable notes linked to Intel

By Kiku Steinfeld

Chicago, Feb. 21 – Bank of Montreal priced $865,000 of autocallable notes due Dec. 18, 2023 linked to Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest of 13.65% per year is payable monthly.

The notes will be automatically called at par if the stock closes at or above the initial price on any monthly call valuation date starting May 2023.

If the notes are not called, the payout at maturity will be par unless the stock finishes below 72% of its initial price, in which case investors will be exposed to the decline in the stock, payable in shares or cash at the issuer’s option.

BMO Capital Markets is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable notes
Underlying stock:	Intel Corp.
Amount:	$865,000
Maturity:	Dec. 18, 2023
Coupon:	13.65% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless the stock finishes below 72% of its initial price, in which case investors will be exposed to the decline in the stock, payable in shares or cash at the issuer’s option
Call:	Automatically called at par if the stock closes at or above the initial price on any monthly call valuation date starting May 2023
Initial index level:	$30.35
Trigger level:	$21.85, 72% of initial level
Pricing date:	Nov. 14, 2022
Settlement date:	Nov. 17, 2022
Underwriter:	BMO Capital Markets
Fees:	2.15%
Cusip:	06369NEC1

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