BMO to price autocallable cash-settled notes tied to indexes, ETFs

By Sarah Lizee

Olympia, Wash., March 27 – Bank of Montreal plans to price autocallable cash-settled notes with contingent interest payments due July 6, 2020 linked to the least performing of the S&P 500 index, Russell 2000 index, VanEck Vectors Gold Miners exchange-traded fund and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 12.6% if each asset closes above its 65% coupon barrier on the observation date for that month.

The notes will be called at par if each asset closes above its initial level on any monthly review date beginning Oct. 2.

The payout at maturity will be par unless any asset finishes below its initial level and any asset ever closes below its 65% trigger level during the life of the notes, in which case investors be fully exposed to any losses of the least performing asset.

BMO Capital Markets Corp. is the agent.

The notes will price on March 29.

The Cusip number is 06367WJZ7.

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