New Issue: BMO sells $2.24 million barrier autocallable notes with step-up call amount on S&P, Russell

By Sarah Lizee

Olympia, Wash., Feb. 26 – Bank of Montreal priced $2.24 million of 0% barrier autocallable notes with step-up call amount Feb. 24, 2025 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized premium of 8.9% if the lesser performing index closes above its initial level on any annual observation date.

The payout at maturity will be par unless the lesser performing index finishes below its 60% barrier level, in which case investors will be fully exposed to the decline of the lesser performing index.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Barrier autocallable notes with step-up call amount
Underlying indexes:	Russell 2000 index and S&P 500 index
Amount:	$2,235,000
Maturity:	Feb. 24, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless lesser performing index finishes below barrier level, in which case par plus return of lesser performing index with full exposure to decline of lesser performing index
Call:	Automatically at par plus 8.9% a year if lesser performing index closes at or above initial level on any annual observation date
Initial level:	3,386.15 for S&P, 1,692.573 for Russell
Barrier levels:	2,031.69 for S&P, 1,015.544 for Russell, 60% of initial levels
Pricing date:	Feb. 19
Settlement date:	Feb. 24
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06367WWR0

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