By Susanna Moon
Chicago, Dec. 27 – Bank of Montreal priced $158,000 of autocallable barrier notes with contingent coupons due Feb. 28, 2020 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual of 6.6% if the fund closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if the fund closes at or above its 110% call level on any call valuation date after six months.
The payout at maturity will be par unless the fund ever closes below 75% trigger level during the life of the notes, in which case investors will be exposed to any losses.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Autocallable barrier notes with contingent coupon
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Underlying fund: | VanEck Vectors Gold Miners ETF
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Amount: | $158,000
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Maturity: | Feb. 28, 2020
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Coupon: | 6.6% annualized, payable monthly if fund closes at or above its 75% coupon barrier on observation date for that month
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Price: | Par
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Call: | At par plus contingent coupon if fund closes at or above 110% call level on any observation date beginning in May 2019
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Payout at maturity: | Par unless fund ever closes below 75% trigger level, in which case 1% loss per 1% decline
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Initial level: | $18.87
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Trigger level: | $14.15, 75% of initial level
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Agent: | BMO Capital Markets Corp.
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Fees: | 2.25%
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Cusip: | 06367WEJ8
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