Chicago, Oct. 18 – Bank of Montreal priced $1.29 million of callable barrier notes with contingent coupons due Oct. 16, 2026 linked to the stock performance of NextEra Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon equal to 17.85% per year if the stock’s closing level is at least 70% of its initial level on the relevant observation date.
The notes will be callable at par plus any coupon otherwise due on any monthly observation date after six months.
If the notes are not called and the stock finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Callable barrier notes with contingent coupons
|
| Underlying stock: | NextEra Energy, Inc.
|
| Amount: | $1,285,000
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| Maturity: | Oct. 16, 2026
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| Coupon: | 17.85% per year, payable monthly if the stock’s closing level is at or above its coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus final coupon; otherwise, full exposure to decline of stock
|
| Call option: | At par plus any coupon due on any monthly observation date after six months
|
| Initial level: | $51.58
|
| Coupon barrier level: | $36.11; 70% of initial level
|
| Trigger level: | $36.11; 70% of initial level
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| Strike date: | Oct. 10
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 16
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.6%
|
| Cusip: | 06375MFM2
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