New Issue: BMO sells $3.33 million contingent market-linked autocalls on Nasdaq, Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, Sept. 14 – Bank of Montreal priced $3.33 million of market-linked securities due March 1, 2023 – autocallable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each index closes at or above its 75% coupon threshold on the observation date for that period.

The notes will be called at par if each index closes at or above its initial level on any monthly observation date after six months.

The payout at maturity will be par unless any index finishes below its 75% downside threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.

BMO Capital Markets Corp. is the agent with Wells Fargo Securities, LLC acting as the agent for distribution.

Issuer:	Bank of Montreal
Issue:	Market linked securities – autocallable with contingent coupon and contingent downside
Underlying indexes:	S&P 500 index, Russell 2000 index, Nasdaq-100 index
Amount:	$3,327,000
Maturity:	March 1, 2023
Coupon:	7.5% annualized, payable monthly if each index closes at or above coupon threshold on observation date for that period
Price:	Par
Payout at maturity:	Par unless any index falls by more than 25%, in which case 1% loss per 1% decline of worst performing index
Call:	At par if each index closes at or above its initial level on any interest payment date after six months
Initial levels:	4,528.79 for S&P, 2,265.99 for Russell, 15,605.09 for Nasdaq
Coupon thresholds:	3,396.5925 for S&P, 1,699.4925 for Russell, 11,703.8175 for Nasdaq; 75% of initial levels
Downside thresholds:	3,396.5925 for S&P, 1,699.4925 for Russell, 11,703.8175 for Nasdaq; 75% of initial levels
Pricing date:	Aug. 30
Settlement date:	Sept. 2
Agent:	BMO Capital Markets Corp. with Wells Fargo Securities, LLC as agent for distribution
Fees:	1.525%
Cusip:	06368ETQ5

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