By William Gullotti
Buffalo, N.Y., April 24 – Bank of Montreal priced $1.74 million of 0% autocallable buffer enhanced return notes due April 19, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 10.1% call premium if the index closes at or above its initial level on April 17, 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
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Issue: | Autocallable buffer enhanced return notes
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Underlying index: | S&P 500 index
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Amount: | $1,738,000
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Maturity: | April 19, 2027
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Coupon: | 0%
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Price: | Par
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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%
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Call: | Automatically at par plus a 10.1% call premium if the index closes at or above its initial level on April 17, 2025
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Initial index level: | 5,123.41
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Buffer level: | 4,611.07; 90% of initial level
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Pricing date: | April 12
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Settlement date: | April 17
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Selling agent: | BMO Capital Markets Corp.
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Fees: | 1%
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Cusip: | 06376ACT5
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