By William Gullotti
Buffalo, N.Y., March 12 – Bank of Montreal priced $2.8 million of 10.2% autocallable barrier notes due March 5, 2026 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be called automatically at par if the stock closes at or above its initial price on any monthly valuation date after six months.
If the stock finishes at or above its 56% trigger price, the payout at maturity will be par.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash value of those shares.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable barrier notes
|
| Underlying stock: | Nvidia Corp.
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| Amount: | $2,796,000
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| Maturity: | March 5, 2026
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| Coupon: | 10.2% per year, payable monthly
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| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger price, par; otherwise, receive a number of shares equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash equivalent
|
| Call: | Automatically at par if the stock closes at or above its initial price on any monthly valuation date after six months
|
| Initial price: | $791.12
|
| Trigger price: | $443.03; 56% of initial price
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| Pricing date: | Feb. 29
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| Settlement date: | March 5
|
| Agent: | BMO Capital Markets Corp.
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| Fees: | 2.95%
|
| Cusip: | 06369NRZ6
|
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