By William Gullotti
Buffalo, N.Y., March 18 – Bank of Montreal priced $1.27 million of 0% autocallable buffer enhanced return notes due March 12, 2026 linked to the performance of the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 19.05% call premium if the ETF closes at or above its initial level on March 14, 2025.
The payout at maturity will be par plus 150% of any ETF gain.
Investors will receive par if the ETF falls by up to 10% and will lose 1% for each 1% that the level of the ETF decreases by more than 10%.
BMO Capital Markets Corp. is the selling agent.
| Issuer: | Bank of Montreal
|
| Issue: | Autocallable buffer enhanced return notes
|
| Underlying fund: | VanEck Gold Miners ETF
|
| Amount: | $1,273,000
|
| Maturity: | March 12, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any gain of the ETF; par if the ETF falls by up to 10%; otherwise, 1% loss for each 1% of ETF decline below 10%
|
| Call: | Automatically at par plus a 19.05% call premium if the ETF closes at or above its initial level on March 14, 2025
|
| Initial level: | $29.61
|
| Buffer level: | $26.65; 90% of initial level
|
| Pricing date: | March 7
|
| Settlement date: | March 12
|
| Selling agent: | BMO Capital Markets Corp.
|
| Fees: | 1.75%
|
| Cusip: | 06376A2D1
|
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