By William Gullotti
Buffalo, N.Y., April 24 – Bank of Montreal priced $5 million of 9.4% capped buffer notes due March 27, 2025 linked to the stock performance of Conagra Brands, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the stock finishes at or above its initial level, the payout at maturity will be par plus the gain, up to a maximum return of par plus 5%.
If the stock falls by up to 5%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the stock beyond 5%.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Capped buffer notes
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| Underlying stock: | Conagra Brands, Inc.
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| Amount: | $5 million
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| Maturity: | March 27, 2025
|
| Coupon: | 9.4%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus any stock gain, up to maximum return of par plus 5%; par if stock falls by up to 5%; otherwise, lose 1% for each 1% that the stock declines beyond 5%
|
| Initial level: | $28.60
|
| Buffer level: | $27.17; 95% of initial level
|
| Strike date: | March 19
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| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.2%
|
| Cusip: | 06376A6F2
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