Chicago, Jan. 27 – Bank of Montreal priced $1.64 million of autocallable barrier notes with contingent coupons due Feb. 29, 2024 linked to the common stock of Blackstone Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
A 20.8% coupon will be paid monthly if the stock closes above its 67% coupon barrier level on the related observation date.
The notes will be called automatically at par if the stock closes at or above its initial price on any monthly valuation date after six months.
If the stock finishes at or above its 67% trigger price, the payout at maturity will be par.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash value of those shares.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable barrier notes with contingent coupons
|
| Underlying stock: | Blackstone Group Inc.
|
| Amount: | $1,641,000
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| Maturity: | Feb. 29, 2024
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| Coupon: | 20.8% per year, payable monthly if stock closes above coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger price, par; otherwise, a number of shares equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash equivalent
|
| Call: | Automatically at par if the stock closes at or above its initial price on any monthly valuation date after six months
|
| Initial price: | $88.86
|
| Coupon barrier level: | $59.54, 67% of initial level
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| Trigger level: | $59.54, 67% of initial level
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.65%
|
| Cusip: | 06369NEX5
|
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