By Wendy Van Sickle
Columbus, Ohio, April 26 – Bank of Montreal priced $6.2 million of barrier notes due April 25, 2025 linked to the common stock performance of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 12.1%, payable monthly.
The payout at maturity will be par if the stock closes above 50% of its initial level.
Otherwise, investors will be fully exposed to the loss, payable as shares or cash at the issuer’s option.
BMO Capital Markets Corp. is the selling agent.
Issuer: | Bank of Montreal
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Issue: | Barrier notes
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Underlying stock: | Tesla, Inc.
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Amount: | $6,204,000
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Maturity: | April 25, 2025
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Coupon: | 12.1% annual rate, payable monthly
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Price: | Par
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Payout at maturity: | Par if stock closes above trigger level; otherwise, full exposure to losses payable as stock or cash at issuer’s option
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Initial level: | $142.05
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Buffer level: | $71.03; 50% of initial level
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Pricing date: | April 22
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Settlement date: | April 25
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 1.25%
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Cusip: | 06369NVA6
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