By William Gullotti
Buffalo, N.Y., Oct. 24 – Bank of Montreal priced $1.01 million of 13.5% autocallable notes due Nov. 21, 2023 linked to the class A common stock of Workday, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be called automatically at par if the stock closes at or above its initial price on any monthly valuation date after six months.
If the stock finishes at or above its 68% trigger price, the payout at maturity will be par.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash value of those shares.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable notes
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| Underlying stock: | Workday, Inc.
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| Amount: | $1,011,000
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| Maturity: | Nov. 21, 2023
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| Coupon: | 13.5% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger price, par; otherwise, receive a number of shares equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash equivalent
|
| Call: | Automatically at par if the stock closes at or above its initial price on any monthly valuation date after six months
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| Initial price: | $152.61
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| Trigger price: | $103.77; 68% of initial price
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 21
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 2.15%
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| Cusip: | 06369NDQ1
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