Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: BMO prices $715,000 autocallable buffer enhanced return notes linked to S&P Value
Chicago, Feb. 14 – Bank of Montreal priced $715,000 of 0% autocallable buffer enhanced return notes due Jan. 2, 2026 linked to the performance of the S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus an 8.05% call premium if the index closes at or above its initial level on Jan. 3, 2025.
The payout at maturity will be par plus 150% of any index gain.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% that the level of the index decreases by more than 10%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable buffer enhanced return notes
|
| Underlying index: | S&P 500 Value index
|
| Amount: | $715,000
|
| Maturity: | Jan. 2, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any gain of the index; par if the index falls by up to 10%; otherwise, 1% loss for each 1% of index decline below 10%
|
| Call: | Automatically at par plus an 8.05% call premium if the index closes at or above its initial level on Jan. 3, 2025
|
| Initial index level: | 1,718.22
|
| Buffer level: | 1,546.40; 90% of initial level
|
| Pricing date: | Dec. 29, 2023
|
| Settlement date: | Jan. 4, 2024
|
| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 1.5%
|
| Cusip: | 06375MQV0
|
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