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BMO plans cash-settled autocallables with conditional coupon on indexes
By Marisa Wong
Morgantown, W.Va., Feb. 7 – Bank of Montreal plans to price autocallable cash-settled notes with conditional interest payments due Feb. 13, 2023 linked to the least performing of the S&P 500 index, Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% to 8.2% if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date.
After six months, the notes will be automatically called at par if each underlying index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless any underlying index finishes below its 65% trigger level, in which case investors be fully exposed to any losses of the worse performing index.
BMO Capital Markets Corp. is the agent.
The notes will price on Feb. 8.
The Cusip number is 06367T2Q2.
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