By William Gullotti
Buffalo, N.Y., Aug. 22 – Bank of Montreal priced $1 million of 0% autocallable market-linked notes due Aug. 22, 2025 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 automatically called at par plus a 6% call premium if the index closes at or above its initial level on Aug. 23, 2023.
The payout at maturity will be par plus any index gain, subject to a maximum return of par plus 30%.
Otherwise, investors will receive par.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Autocallable market-linked notes
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | Aug. 22, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain up to 30%; otherwise, par
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Call: | Automatically at par plus a 6% call premium if the index closes at or above initial level on Aug. 23, 2023
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Initial index level: | 4,274.04
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.5%
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Cusip: | 06368GZZ3
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