New Issue: BMO sells $631,000 autocallable barrier notes with contingent coupons on indexes

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – Bank of Montreal priced $631,000 of autocallable barrier notes with contingent coupons due Dec. 31, 2030 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Every quarter, the notes will pay a coupon equal to 6.25% per year if each index’s level is greater than 75% of the initial level on the observation date for that quarter.

The notes will be automatically redeemed at par plus the contingent coupon if each index closes above its initial level on any quarterly observation date beginning on Dec. 28, 2021.

If the notes are not called and both indexes finish at or above 65% of their initial levels, the payout at maturity will be par plus any coupon due. If the notes are not called and either index has fallen below 65% of its initial level, investors will lose 1% for each 1% decline from the initial level of the least-performing index.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupon
Underlying indexes:	Euro Stoxx 50 index and Russell 2000 index
Amount:	$631,000
Maturity:	Dec. 31, 2030
Coupon:	6.25% per year, payable quarterly if each index’s level is greater than 75% of the initial level on the observation date for that quarter
Price:	Par
Payout at maturity:	Par plus any coupon due unless the final level of either index is less than 65% of the initial level, in which case investors will lose 1% for each 1% decline from the initial level of the least-performing index
Call:	At par plus contingent coupon if indexes close above initial levels on any quarterly observation date beginning on Dec. 28, 2021
Initial levels:	3,497.49 for Euro Stoxx and 1,989.88 for Russell
Coupon barriers:	2,623.12 for Euro Stoxx and 1,492.41 for Russell, 75% of initial levels
Trigger levels:	2,273.37 for Euro Stoxx and 1,293.442 for Russell, 65% of initial levels
Pricing date:	Dec. 22
Settlement date:	Dec. 28
Agent:	BMO Capital Markets Corp.
Fees:	3%
Cusip:	06368EAF9

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