New Issue: BMO sells $4.29 million callable barrier notes with contingent coupon on S&P 500

By Wendy Van Sickle

Columbus, Ohio, March 13 – Bank of Montreal priced $4.29 million callable barrier notes with a contingent coupon due March 13, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon equal to 9% per year if the index closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.

The notes may be redeemed at par plus any coupon otherwise due on any monthly observation date after three months.

If the notes are not called and the index finishes at or above 60% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Callable barrier notes with contingent coupon
Underlying index:	S&P 500 index
Amount:	$4,289,000
Maturity:	March 13, 2026
Coupon:	9% per year, payable monthly if index closes at or above coupon barrier level on related observation date
Price:	Par
Payout at maturity:	Par if index finishes at or above trigger level, par; otherwise, lose 1% for each 1% decline of index from its initial level
Call option:	At par plus any coupon otherwise due on any monthly observation date after three months
Initial level:	3,992.01
Coupon barrier:	2,794.41; 70% of initial level
Trigger level:	2,395.21; 60% of initial level
Pricing date:	March 8
Settlement date:	March 13
Agent:	BMO Capital Markets Corp.
Fees:	0.75%
Cusip:	06374VP59

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