Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: BMO sells $2.17 million 8.3% autocallable cash-settled notes on Stoxx, Russell
By Sarah Lizee
Olympia, Wash., June 5 – Bank of Montreal priced $2.17 million of 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.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable cash-settled notes with fixed interest payments
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $2,166,000
|
| Maturity: | Aug. 31, 2020
|
| Coupon: | 8.3%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below its trigger level during life of notes, in which full exposure to any losses of lesser-performing index
|
| Call: | At par if each index closes above 105% of its initial level on any monthly call date beginning on Nov. 25
|
| Initial levels: | 3,318.15 for Stoxx, 1,485.531 for Russell
|
| Coupon barrier/triggers: | 2,322.71 for Stoxx, 1,039.872 for Russell; 70% of initial levels
|
| Pricing date: | May 30
|
| Settlement date: | May 31
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.75%
|
| Cusip: | 06367WLG6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
