Chicago, July 31 – Bank of Montreal priced $1.51 million of barrier notes due July 29, 2024 linked to the common stock performance of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 10%, payable monthly.
The payout at maturity will be par if the stock closes above 52% of its initial level.
Otherwise, investors will be fully exposed to the loss, payable as shares or cash at the issuer’s option.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
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| Issue: | Barrier notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $1.51 million
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| Maturity: | July 29, 2024
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| Coupon: | 10% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if stock closes above trigger level; otherwise, full exposure to losses payable as stock or cash at issuer’s option
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| Initial level: | $265.28
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| Buffer level: | $137.95; 52% of initial level
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| Pricing date: | July 25
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| Settlement date: | July 28
|
| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 1.75%
|
| Cusip: | 06369NKK6
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