BMO to price autocallable cash-settled notes on two indexes, two ETFs

By Marisa Wong

Morgantown, W.Va., Nov. 2 – Bank of Montreal plans to price autocallable cash-settled notes with fixed interest payments due Feb. 8, 2019 linked to the least performing of the S&P 500 index, Russell 2000 index, Vaneck Vectors Gold Miners exchange-traded fund and SPDR Euro Stoxx 50 ETF, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly at a rate of 11.52% per year.

The notes will be called at par plus the coupon if each underlying closes above its initial level on any monthly call date beginning on May 3, 2018.

The payout at maturity will be par unless any underlying closes below the 65% trigger level on any day during the life of the notes and any underlying finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing underlying from its initial level.

BMO Capital Markets Corp. is the agent.

The notes will price on Nov. 3.

The Cusip number is 06367TQ29.

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