Published on 4/8/2021 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.96 million of autocallable barrier notes on gold ETF, indexes
New York, April 8 – Bank of Montreal priced $1.96 million of autocallable barrier notes with contingent coupons due July 11, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index, and the VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 11% if each asset closes at or above its 65% coupon barrier level on the applicable monthly observation date.
The notes will be called at par if each asset closes above its initial level on any monthly observation date beginning Oct. 7.
The payout at maturity will be par unless any asset finishes below its 60% trigger level at any point during the life of the notes, in which case investors be fully exposed to any losses of the least performing asset unless all underliers close above their initial levels in which case the payout will also be par.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
|
Issue: | Autocallable barrier notes with contingent coupons
|
Underlying assets: | S&P 500 index, Russell 2000 index and VanEck Vectors Gold Miners ETF
|
Amount: | $1.96 million
|
Maturity: | July 11, 2022
|
Coupon: | 11% per year, payable monthly if each asset’s closing level is above coupon barrier level on the observation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless any asset finishes initial level; par if no asset closes below its 60% trigger level on any day, in which case, full downside exposure to the least performing asset
|
Call: | At par plus contingent coupon if each asset close at or above initial levels on any monthly observation date after six months
|
Initial levels: | 4,073.94 for S&P, 2,259.153 for Russell, $34.28 for VanEck Vectors Gold Miners
|
Coupon barrier levels: | 2,648.06 for S&P, 1,468.449 for Russell, $22.28 for VanEck Vectors Gold Miners; 65% of initial levels
|
Trigger levels: | 2,443.36 for S&P, 1,355.492 for Russell, $20.57 for VanEck Vectors Gold Miners; 60% of initial levels
|
Pricing date: | April 6
|
Settlement date: | April 9
|
Agent: | BMO Capital Markets Corp.
|
Fees: | 0.25%
|
Cusip: | 06368EJ86
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.