New Issue: BMO sells $1.36 million autocallable notes on Applied Materials

By Wendy Van Sickle

Columbus, Ohio, Sept. 14 – Bank of Montreal priced $1.36 million of 13.6% autocallable notes due Oct. 16, 2023 linked to the common stock of Applied Materials, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be automatically redeemed at par if the stock closes at or above its initial price on any monthly observation date after six months.

If the stock finishes at or above 69% of its initial share price, the payout at maturity will be par. Otherwise, investors receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable notes
Underlying stock:	Applied Materials, Inc.
Amount:	$1,359,000
Maturity:	Oct. 16, 2023
Coupon:	13.6%
Price:	Par
Payout at maturity:	If the stock finishes at or above trigger price, par; otherwise, investors receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
Call:	At par if stock closes at or above initial price on any monthly observation date after six months
Initial price:	$96.51
Trigger price:	$66.59; 69% of initial price
Pricing date:	Sept. 9
Settlement date:	Sept. 14
Agent:	BMO Capital Markets Corp.
Fees:	2.15%
Cusip:	06369NDA6

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