By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – Bank of Montreal priced $2.2 million of autocallable barrier notes with memory coupons due Aug. 10, 2026 linked to the common stock of Marvell Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon equal to 13.55% per year if the stock closes at or above its coupon barrier level, 50% of its initial price, on the relevant observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically redeemed at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly observation date starting after six months.
If the notes are not called and the stock finishes at or above its 50% trigger price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the losses of the stock.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable barrier notes with memory coupons
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| Underlying stock: | Marvell Technology, Inc.
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| Amount: | $2.2 million
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| Maturity: | Aug. 10, 2026
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| Coupon: | 13.55% per year, payable quarterly if stock closes at or above coupon barrier level on related observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If the stock finishes at or above trigger price, par plus final coupon; otherwise, investors will be fully exposed to the losses of the stock
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| Call: | At par plus contingent coupon if the stock closes at or above initial price on any quarterly observation date starting after six months
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| Initial price: | $62.69
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| Coupon barrier: | $31.35; 50% of initial price
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| Trigger price: | $31.35; 50% of initial price
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 10
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 2.35%
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| Cusip: | 06375M6H3
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