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Principal At Risk Notes
Bank of Montreal AutoCallable Principal At Risk Notes, Series 27
JHN8566
Product Details
TypeAutoCallable
IssuerBank of Montreal
ClassEquity
Linked toS&P/TSX 60 Index
CurrencyCAD
Issue DateJuly 10, 2013
Maturity DateJuly 10, 2018
Term5.0 Years
AutoCall Coupon (Next Call Date)26.00%
AutoCall Level100.00%
Observation DatesAnnual
Excess Participation5.00%
Barrier Protection-20.00%
Product Description
  • The objective of the Notes is to generate a variable coupon for investors while offering contingent downside protection against a slight to moderate decline in the S&P/TSX 60 Index (Price Return Version) over the next five years. The Principal Amount is NOT protected under these Notes.
  • Medium-Term: 5-year term to maturity.
  • AutoCall Feature: The Notes have been designed to be automatically called by the Bank if the price return of the Reference Index is unchanged or positive on any Valuation Date during the term of the Notes. If the AutoCall feature is triggered, investors will receive payment of their original principal investment in the Notes, plus a Variable Coupon that increases each successive year during the term. If the Index Return is negative on each Valuation Date, there will be no Variable Coupon paid on the Notes.
  • Potential Variable Coupon: If the Reference Index closes at or above AutoCall Level on any Valuation Date, the Notes will be automatically called by the Bank and investors will receive payment of a Variable Coupon, plus 5.00% additional participation in the performance of the Reference Index above the Coupon Amount specified for that Valuation Date.
  • Coupon Amount in Year 1: 9.00%; Year 2: 16.00%; Year 3: 21.00%; Year 4: 26.00%; Year 5: 31.00%
  • Contingent Protection: The principal amount will be fully protected against a 20% decline in S&P/TSX 60 Index measured at maturity only. However, holders will be exposed to the full decline in the Reference Index if the Reference Index closes below the Barrier Level on the Final Valuation Date.
  • Daily secondary market provided by BMO Capital Markets (may be subject to an early trading charge and other limitations as described in the Prospectus).

Current Status
Update as ofJuly 10, 2014
Remaining Term4.00 years
Current ETC0.00%
Current Bid Price historical $109.71