New Issue: BMO prices $25,000 autocallable buffer enhanced return notes linked to S&P

Chicago, Dec. 1 – Bank of Montreal priced $25,000 of 0% autocallable buffer enhanced return notes due Oct. 29, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically at par plus an 8.5% premium if the index closes at or above its initial level on Nov. 1, 2023.

The payout at maturity will be par plus any index gain.

Investors will receive par if the index falls by up to 35% and will lose 1% for each 1% that the level of the index decreases by more than 35%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Autocallable buffer enhanced return notes
Underlying index:	S&P 500 index
Amount:	$25,000
Maturity:	Oct. 29, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain of the index; par if the index falls by up to 35%; otherwise, 1% loss for each 1% of index decline below 35%
Call:	Automatically at par plus 8.5% if the index closes at or above its initial level on Nov. 1, 2023
Initial index level:	3,830.60
Buffer level:	2,489.89; 65% of initial level
Pricing date:	Oct. 26, 2022
Settlement date:	Oct. 31, 2022
Selling agent:	BMO Capital Markets Corp.
Fees:	3.625%
Cusip:	06374VB39

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