By William Gullotti
Buffalo, N.Y., April 8 – Bank of Montreal priced $1.85 million of 9.5% autocallable barrier notes due March 31, 2027 linked to the class C common stock of Dell Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes will be called automatically at par if the stock closes at or above its initial price on any quarterly valuation date after one year.
If the stock finishes at or above its 60% trigger price, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the stock from its initial price.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable barrier notes
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| Underlying stock: | Dell Technologies Inc.
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| Amount: | $1.85 million
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| Maturity: | March 31, 2027
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| Coupon: | 9.5% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger price, par; otherwise, full exposure to decline of stock from initial price
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| Call: | Automatically at par if the stock closes at or above its initial price on any quarterly valuation date after one year
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| Initial price: | $114.65
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| Trigger price: | $68.79; 60% of initial price
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| Pricing date: | March 26
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| Settlement date: | March 28
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 2.7%
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| Cusip: | 06376A6N5
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