By Wendy Van Sickle
Columbus, Ohio, April 11 – Bank of Montreal priced $1.48 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due April 1, 2027 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be automatically called at par plus an 10% call premium if the ETF closes at or above its initial level on any semiannual observation date after one year.
The payout at maturity will be par plus 30% if the ETF gains.
If the ETF falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the ETF beyond 10%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
|
| Underlying ETF: | SPDR S&P Biotech ETF
|
| Amount: | $1,481,000
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| Maturity: | April 1, 2027
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 30% if the ETF gains; if ETF falls by up to 10%, par; otherwise, 1% loss for every 1% decline of ETF beyond 10%
|
| Call: | Automatically at par plus 10% call premium if the ETF closes at or above its initial level on any semiannual observation date after one year
|
| Initial level: | $94.89
|
| Trigger level: | $85.401; 90% of initial level
|
| Pricing date: | March 28
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| Settlement date: | April 3
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 2.575%
|
| Cusip: | 06376A3D0
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