New Issue: BMO sells $6 million barrier notes tied to Apple, Starbucks

By Wendy Van Sickle

Columbus, Ohio, Oct. 21 – Bank of Montreal priced $6 million 9.25% barrier notes due Oct. 19, 2022 tied to the common stocks of Apple Inc. and Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

If each stock finishes at or above its trigger level, 65% of its initial share price, the payout at maturity will be par. Otherwise, investors will have full exposure to the decline of the worse performing stock.

BMO Capital Markets is the underwriter.

Issuer:	Bank of Montreal
Issue:	Barrier notes
Underlying stocks:	Apple Inc. and Starbucks Corp.
Amount:	$6 million
Maturity:	Oct. 19, 2022
Coupon:	9.25%, monthly
Price:	Par
Payout at maturity:	Par unless either stock finishes below its trigger level, in which case full exposure to the decline of the worse performing stock
Initial levels:	$121.19 for Apple, $89.31 for Starbucks
Barrier levels:	$78.77 for Apple, $58.05 for Starbucks, 65% of initial levels
Pricing date:	Oct. 14
Settlement date:	Oct. 19
Agent:	BMO Capital Markets
Fees:	0.32%
Cusip:	06368E2L5

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