By William Gullotti
Buffalo, N.Y., Nov. 3 – Bank of Montreal priced $1.02 million of 0% autocallable buffer enhanced return notes due Nov. 2, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 14% call premium if the index closes at or above its initial level on Nov. 3, 2023.
The payout at maturity will be par plus 150% of any index gain.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% that the level of the index decreases by more than 20%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable buffer enhanced return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,015,000
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| Maturity: | Nov. 2, 2027
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any gain of the index; par if the index falls by up to 20%; otherwise, 1% loss for each 1% of index decline below 20%
|
| Call: | Automatically at par plus a 14% call premium if the index closes at or above its initial level on Nov. 3, 2023
|
| Initial index level: | 3,901.06
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| Buffer level: | 3,120.85; 80% of initial level
|
| Pricing date: | Oct. 28
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| Settlement date: | Nov. 2
|
| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 1%
|
| Cusip: | 06374VBH8
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