New Issue: BMO sells $5.5 million autocallable barrier notes on ETF, indexes

Chicago, April 5 – Bank of Montreal priced $5.5 million of autocallable barrier notes with contingent coupons due June 20, 2022 linked to the least performing of the Nasdaq-100 index, the S&P 500 index, and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 13.3% if each asset closes at or above its 65% coupon barrier level on the applicable monthly observation date.

The notes will be called at par if each asset closes above its initial level on any monthly observation date beginning Sept. 15.

The payout at maturity will be par if all assets finish above their initial levels. The payout will also be par if no asset finishes below its 60% trigger level at any point during the life of the notes. Otherwise, investors be fully exposed to any losses of the least performing asset.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable barrier notes with contingent coupons
Underlying assets:	Nasdaq-100 index, the S&P 500 index, and the VanEck Vectors Gold Miners exchange-traded fund
Amount:	$5,496,000
Maturity:	June 20, 2022
Coupon:	13.3% per year, payable each month that each asset closes at or above its coupon barrier on observation date for that month
Price:	Par of $1,000
Payout at maturity:	Par if all assets finish above initial levels; par if no asset closes below trigger level on any day during the life of the notes, otherwise, investors will be fully exposed to any losses of the least performing asset
Call:	At par plus the coupon if each asset finishes above its initial level on any monthly observation date beginning Sept. 15
Initial levels:	3,962.71 for S&P, 2,319.518 for Russell, $33.49 for Gold ETF
Coupon barriers:	2,575.76 for S&P, 1,507.687 for Russell, $21.77 for Gold ETF; 65% of initial levels
Trigger levels:	2,377.63 for S&P, 1,391.711 for Russell, $20.09 for Gold ETF; 60% of initial levels
Pricing date:	March 16
Settlement date:	March 19
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06368EGT3

© 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.