BMO to price 8.3% autocallable cash-settled notes on Stoxx, Russell

By Sarah Lizee

Olympia, Wash., May 23 – Bank of Montreal plans to price 8.3% autocallable cash-settled notes with fixed interest payments due Aug. 31, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each index closes above 105% of its initial level on any monthly call date beginning on Nov. 25.

The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing index.

BMO Capital Markets Corp. is the agent.

The notes will price May 28.

The Cusip number is 06367WLG6.

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