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

By Sarah Lizee

Olympia, Wash., Dec. 18 – Bank of Montreal plans to price autocallable cash-settled notes with contingent interest payments due March 27, 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 exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 15% 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 June 24, 2019.

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 Dec. 21 and settle on Dec. 27.

The Cusip number is 06367WFU2.

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