Summary by Futu AI
Bank of Montreal has issued $4,327,000 in Autocallable Barrier Notes due December 31, 2027, linked to the performance of NVIDIA, Amazon, and Apple stocks. The notes offer potential quarterly coupons of 5.55% (22.20% p.a.) if all stocks close at or above 70% of initial levels on observation dates.Starting March 2025, notes will be automatically redeemed if all stocks close at or above initial levels on any quarterly observation date. If not redeemed early and any stock closes below 70% of its initial level at maturity, investors receive shares of the worst-performing stock or cash equivalent, worth less than the principal amount.The notes carry credit risk of Bank of Montreal and will not be listed on any exchange. Citigroup is acting as the selling agent. The estimated initial value is $975.37 per $1,000 principal amount, below the public offering price.