By Wendy Van Sickle
Columbus, Ohio, April 22 – Bank of Montreal $15.65 million of 10.15% autocallable barrier notes due May 19, 2025 linked to the stock performance of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically redeemed at par if the stock closes at or above its initial price on any monthly observation date after six months.
If the notes are not called and the stock finishes at or above its 75% trigger price, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the stock from its initial price.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Autocallable barrier notes
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $15,648,000
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| Maturity: | May 19, 2025
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| Coupon: | 10.15% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | If the stock finishes at or above its trigger price, par; otherwise, full exposure to decline from initial price
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| Call: | At par if the stock closes at or above initial price on any monthly observation date after six months
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| Initial price: | $183.32
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| Trigger price: | $137.49; 75% of initial price
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| Pricing date: | April 16
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| Settlement date: | April 19
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 2.15%
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| Cusip: | 06369NUA7
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