Published on 1/29/2020 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.15 million autocallable cash-settled notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – Bank of Montreal priced $1.15 million of autocallable cash-settled notes with contingent interest payments due Jan. 24, 2030 linked to the least performing of the Nasdaq-100 index, the Euro Stoxx 50 index and the iShares China Large-Cap exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annual rate of 9.15% if each asset closes above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial level on any quarterly review date beginning July 21, 2020.
The payout at maturity will be par unless any asset finishes below its 60% trigger level, in which case investors be fully exposed to any losses of the least performing asset with a cap of par.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable cash-settled notes with contingent interest payments
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| Underlying assets: | Nasdaq-100 index, Euro Stoxx 50 index, iShares China Large-Cap ETF
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| Amount: | $1.15 million
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| Maturity: | Jan. 24, 2030
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| Coupon: | 9.15% per year, payable quarterly if each asset closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its trigger level, in which case investors will be fully exposed to any losses of the least performing asset
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| Call: | At par plus coupon if each asset finishes at or above initial level on any quarterly call date beginning July 21, 2020
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| Initial levels: | 9,141.467 for Nasdaq, 3,779.16 for Euro Stoxx, $42.35 for ETF
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| Coupon barriers: | 5,484.88 for Nasdaq, 2,267.5 for Euro Stoxx, $25.41 for ETF, 60% of initial levels
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| Trigger levels: | 5,484.88 for Nasdaq, 2,267.5 for Euro Stoxx, $25.41 for ETF, 60% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 0.25%
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| Cusip: | 06367WVC4
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