By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Bank of Montreal priced $2.87 million of autocallable barrier notes with a contingent coupon due Feb. 10, 2025 linked to the common stock of Paramount Global, according to a 424B2 filing with the Securities and Exchange Commission.
Every month, the notes will pay a coupon equal to 14.9% per year if the stock closes above its coupon barrier level, 54% of its initial price, on the observation date for that month.
The notes will be automatically redeemed at par plus the contingent coupon if the stock closes above its initial price on any monthly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the stock closes below 54% of its initial price, in which case investors will lose 1% for each 1% decline of the stock from its initial price.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable barrier notes with contingent coupon
|
| Underlying stock: | Paramount Global
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| Amount: | $2,867,000
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| Maturity: | Feb. 10, 2025
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| Coupon: | 14.9% per year, payable monthly if each stock closes above coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless stock closes below 54% of initial price, in which case investors will lose 1% for each 1% decline of stock from its initial price
|
| Call: | At par plus contingent coupon if each stock closes above initial price on any observation date after six months
|
| Initial price: | $23.35
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| Coupon barrier/trigger price: | $12.61, 54% of initial price
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 10
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 2.95%
|
| Cusip: | 06369NFH9
|
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