By Devika Patel
Knoxville, Tenn., Dec. 30 – Bank of Montreal priced $383,000 8.4% autocallable cash-settled notes with fixed-interest payments due Dec. 30, 2016 linked to the iShares Nasdaq Biotechnology exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the fund closes above the 110% call level on any monthly call date, the notes will be called at par plus the coupon.
If the notes are not called, the payout at maturity will be par unless the fund closes below the 75% trigger price at any time during the life of the notes and finishes below the initial price, in which case investors will be fully exposed to the decline in the fund from its initial price.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable cash-settled notes
|
| Underlying fund: | iShares Nasdaq Biotechnology exchange-traded fund
|
| Amount: | $383,000
|
| Maturity: | Dec. 30, 2016
|
| Coupon: | 8.4%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless fund closes below 75% trigger price at any time during life of the notes and finishes below initial price, in which case full exposure to fund decline from its initial price
|
| Call: | At par plus the coupon if fund closes above 110% call level on any monthly call date
|
| Initial price: | $337.22
|
| Trigger price: | $252.92, 75% of initial level
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.6%
|
| Cusip: | 06366R5F8
|
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