Summary by Futu AI
Bank of Montreal has announced the offering of Senior Medium-Term Notes, Series I Autocallable Barrier Notes due May 04, 2026. The notes are linked to the performance of the Russell 2000® Index and the S&P 500® Index, with a contingent interest rate of 0.6917% per month (approximately 8.30% per annum).The notes feature monthly contingent coupon payments, potential for automatic early redemption starting July 2025, and a return of principal if the closing levels of both indices are above their initial levels on any monthly observation date. However, investors risk losing some or all principal if the final level of either index falls below 75% of its initial level at maturity.The notes will be issued in minimum denominations of $1,000 and are subject to Bank of Montreal's credit risk. BMO Capital Markets Corp. is the agent for this offering. The estimated initial value of the notes is $984.80 per $1,000 principal amount, which may differ on the pricing date but will not be less than $935.00.