Published on 7/31/2018 in the Prospect News Structured Products Daily.
New Issue: BMO prices $65,000 7.68% coupon buffered autocalls tied to tech stocks
By Susanna Moon
Chicago, July 31 – Bank of Montreal priced $65,000 of 7.68% fixed coupon notes due July 31, 2019 linked to a basket of technology stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Alphabet Inc., Amazon.com, Inc., Apple Inc., Facebook, Inc., Netflix Inc., Nvidia Corp., Tesla Inc. and Twitter, Inc.
Interest is payable monthly.
The notes will be called at par if the basket closes at or above its 105% call level on any review date after one year.
The payout at maturity will be par unless the basket falls by up to 10%, in which case investors be exposed to any losses beyond the buffer.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Fixed coupon notes
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| Underlying assets: | Alphabet Inc. (Symbol: GOOG), Amazon.com, Inc. (Symbol: AMZN), Apple Inc. (Symbol: AAPL), Facebook, Inc. (Symbol: FB), Netflix Inc. (Symbol: NFLX), Nvidia Corp. (Symbol: NVDA), Tesla Inc. (Symbol: TSLA) and Twitter, Inc. (Symbol: TWTR)
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| Amount: | $65,000
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| Maturity: | July 31, 2019
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| Coupon: | 7.68%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless basket falls by more than 10%, in which case 1% loss per 1% decline beyond 10%
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| Call: | At par if each asset closes at or above 105% call level on any review date beginning in January 2019
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| Initial levels: | $1,285.50 for Alphabet, $1,808.00 for Amazon, $194.21 for Apple, $176.26 for Facebook, $363.09 for Netflix, $254.84 for Nvidia, $306.65 for Tesla and $42.94 for Twitter
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 0.6%
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| Cusip: | 06367T7G9
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