By William Gullotti
Buffalo, N.Y., Dec. 5 – Bank of Montreal priced $13.21 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due Dec. 3, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be automatically called at par plus a 9% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes at or above its initial level, the payout at maturity will be par plus 27%.
If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Bank of Montreal
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Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
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Underlying: | S&P 500 index
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Amount: | $13,211,000
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Maturity: | Dec. 3, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above initial level, par plus 27%; par if index falls by no more than 10%; otherwise, 1% loss for every 1% decline of index beyond 10%
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Call: | Automatically at par plus a 9% annualized call premium if the index closes at or above its initial level on any annual observation date
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Initial level: | 4,550.58
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Trigger level: | 4,095.522; 90% of initial level
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Pricing date: | Nov. 29
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Settlement date: | Dec. 4
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.575%
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Cusip: | 06375MJT3
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