By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Bank of Montreal priced $4.13 million of 0% autocallable barrier enhanced return notes due Jan. 30, 2026 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 an 11.7% call premium if the index closes at or above its initial level on Feb. 1, 2024.
The payout at maturity will be par plus 150% of any index gain.
Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% of index decline if it falls by more than 30%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable barrier enhanced return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $4,131,000
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| Maturity: | Jan. 30, 2026
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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 30%; otherwise, full exposure to index decline from initial level
|
| Call: | Automatically at par plus 11.7% call premium if the index closes at or above its initial level on Feb. 1, 2024
|
| Initial index level: | 4,060.43
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| Barrier level: | 2,842.3; 70% of initial level
|
| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 3.1753%
|
| Cusip: | 06374VJA5
|
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