Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $1.88 million autocallable barrier enhanced return notes on three indexes
By William Gullotti
Buffalo, N.Y., April 8 – Bank of Montreal priced $1.88 million of 0% autocallable barrier enhanced return notes due March 31, 2027 linked to the performance of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 17.04% call premium if each index closes at or above its initial level on March 31, 2025.
The payout at maturity will be par plus 200% of any gain in the least performing index.
Investors will receive par if the worst performer falls by up to 30% and will lose 1% for each 1% decline of the worst performer if it falls by more than 30%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable barrier enhanced return notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1.88 million
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| Maturity: | March 31, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 200% of any gain in least performing index; par if worst performer falls by up to 30%; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus a 17.04% call premium if each index closes at or above its initial level on March 31, 2025
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| Initial levels: | 5,218.19 for S&P, 2,074.163 for Russell, 18,277.06 for Nasdaq
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| Barrier levels: | 3,652.73 for S&P, 1,451.914 for Russell, 12,793.94 for Nasdaq; 70% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 28
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| Selling agent: | BMO Capital Markets Corp.
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| Fees: | 0.5%
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| Cusip: | 06376A6J4
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