New Issue: BMO sells $2 million autocallable buffer notes with step-up call on Russell

By William Gullotti

Buffalo, N.Y., April 24 – Bank of Montreal priced $2 million of 0% autocallable buffer notes with step-up call amount due April 16, 2029 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically redeemed at par plus an annualized call premium of 7.26% if the index closes at or above its initial level on any semiannual observation date starting Oct. 13, 2025.

If the notes are not called, the payout at maturity will be par unless the final level of the index is less than 85% of the initial level, in which case investors will lose 1% for each 1% decline of the index beyond 15%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable buffer notes with step-up call amount
Underlying index:	Russell 2000 index
Amount:	$2,002,000
Maturity:	April 16, 2029
Coupon:	0%
Price:	Par
Payout at maturity:	If not called, par unless the final level of the index is less than trigger level, in which case investors will lose 1% for each 1% decline of the index below 15%
Call:	At par plus 7.26% annualized premium if the index closes at or above initial level on any semiannual observation date starting Oct. 13, 2025; includes maturity date
Initial level:	2,042.604
Trigger level:	1,736.213; 85% of initial level
Pricing date:	April 11
Settlement date:	April 16
Agent:	BMO Capital Markets Corp.
Fees:	3.625%
Cusip:	06376ABK5

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