New Issue: BMO sells $1.96 million autocallable barrier notes with contingent coupon on indexes, ETF

Chicago, Dec. 6 – Bank of Montreal priced $1.96 million of autocallable barrier notes with contingent coupons due July 1, 2022 linked to the least performing of the VanEck Vectors Gold Miners ETF, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon equal to 12% per year if each underlier’s closing level is at least 65% of its initial level on the relevant observation date.

The notes will be automatically redeemed at par plus the contingent coupon if each underlier closes above its initial level on any monthly observation date after six months.

If the notes are not called, the payout at maturity will be par plus the final coupon if each underlier finishes at or above its initial level. The payout will also be par if no underlier closes below its 60% trigger level during the life of the notes. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupons
Underlying assets:	VanEck Vectors Gold Miners ETF, the S&P 500 index and the Russell 2000 index
Amount:	$1,959,000
Maturity:	July 1, 2022
Coupon:	12% per year, payable monthly if each underlier’s closing level is at or above its coupon barrier level on the relevant observation date
Price:	Par
Payout at maturity:	Par plus the final coupon if each underlier finishes at or above its initial level; par if no underlier ever closes below trigger level during the life of the notes; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
Call:	At par plus contingent coupon if each underlier closes at or above initial levels on any monthly observation date after six months
Initial levels:	3,971.09 for S&P, 2,158.682 for Russell, $32.86 for Gold
Coupon barrier levels:	2,581.21 for S&P, 1,403.143 for Russell, $21.36 for Gold; 65% of initial levels
Trigger levels:	2,382.65 for S&P, 1,295.209 for Russell, $19.72 for Gold; 60% of initial levels
Pricing date:	March 29
Settlement date:	April 1
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06368EHE5

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