New Issue: BMO sells $2.38 million contingent market-linked securities with downside on PayPal

By William Gullotti

Buffalo, N.Y., Sept. 22 – Bank of Montreal priced $2.38 million of market-linked securities – contingent fixed return and contingent downside due Sept. 30, 2024 linked to the stock performance of PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock finishes at or above its 60% downside threshold, the payout at maturity will be par plus 11.6%.

Otherwise, investors will be fully exposed to the stock’s decline from its initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market linked securities – contingent fixed return and contingent downside
Underlying stock:	PayPal Holdings, Inc.
Amount:	$2,377,000
Maturity:	Sept. 30, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the stock finishes at or above downside threshold, par plus 11.6%; otherwise, 1% loss for every 1% decline from initial level
Initial level:	$62.19
Downside threshold:	$37.314; 60% of initial level
Pricing date:	Sept. 19
Settlement date:	Sept. 22
Agent:	Wells Fargo Securities, LLC
Fees:	2.325%
Cusip:	06375MAZ8

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